Ringgit Ends Lower As Dollar Firms On Trade Concerns

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The US dollar–ringgit is oscillating within a narrow range of RM4.22 to RM4.23, says analyst.
KUALA LUMPUR: The ringgit slipped against the US dollar at today’s close, reflecting renewed strength in the greenback amid lingering trade tensions between the US and China
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Dollar Index (DXY) rose 0.21% to 99.185 points, as concerns over US-China relations appeared to ease following president Donald Trump’s remarks over the weekend.
According to reports, Trump said the US will impose a 100% tariff on imports from China, along with restrictions on tech exports, starting Nov 1, 2025, or sooner, depending on China’s response.
Afzanizam also noted that investors remained wary of the state of trade and the ongoing US government shutdown, which has limited data visibility for the Federal Reserve ahead of its meeting at the end of the month.
“Therefore, the US dollar–ringgit is oscillating within a narrow range of RM4.22 to RM4.23,” he told Bernama.
At 6pm, the local currency slipped to 4.2265/4.2295 against the US dollar from Friday’s close of 4.2200/4.2260.
Meanwhile, the ringgit weakened against a basket of major currencies.
It fell against the euro to 4.9006/4.9041 from 4.8838/4.8907 at Friday’s close, edged lower versus the Japanese yen to 2.7775/2.7796 from 2.7618/2.7659, and dropped against the British pound to 5.6369/5.6409 from 5.6084/5.6164.
Against Asean currencies, the ringgit also closed lower.
It depreciated versus the Thai baht to 12.9878/13.0030 from 12.8942/12.9184, narrowed against the Singapore dollar to 3.2562/3.2587 from 3.2494/3.2543, slid versus the Philippine peso to 7.26/7.26 from 7.24/7.26, and softened against the Indonesian rupiah to 255/255.3 from 254.6/255.1. - FMT

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