Qualampur: Ringit opened less against the US dollar on Monday as Greenback strengthened renewed instability from the point of view of a challenging global economy for the second half of the 2025.
At 8.03 am, the local note was at 4.2375/2560 against Greenback, decreasing from close to 4.2270/2360 on Friday.
After data from the strong-to-the United States of America (US) Nonform Panel (NFP) for May, the bank Malayasia BHD Chief Economist Dr. Mohammad Afzanizam Abdul Rashid said that the ringitte is between 4.23 and 4.24 today.
He said that the US NFP increased by 139,000 in May, which was more than an estimate of 126,000, while the unemployment rate was up to 4.2 percent for three consecutive months, extending the US dollar index (DXY) to 99.190 points on Friday.
“The latest NFP print suggests that the labor market in the US is still quite flexible despite struggling with high tariffs,” he told Bernama.
However, Mohammad Afzanizam said, the April NFP was revised less than 177,000 to 147,000, and the US labor force’s participation rate fell by 62.4 percent in May to 62.6 percent in April 62.6 percent.
“On that note, while the labor market is still running together, the signs of further moderation in the data chain are gradually emerging.
He said, “As trade and consumer sentiments are weak, the approach to the second half of the 2025 economy seems to be rapidly challenging. Therefore, the matter for a low American federal funds is gaining momentum,” he said.
He said that Ringit received against Greenback, with the closure of USDMYR 4.2315, appreciated 0.6 percent in a week of a week last week.
In the initial session, Ringit traded against a basket of most major currencies.
It increased against Japanese Yen from 2.9324/9390 to 2.9305/9435 on Friday, but reduced the British pound from 5.7367/7618 to 5.7212/7334 and reduced the Euro from 4.8341/8371 to Vij-A-Vis.
Local currency did most of its businesses compared to most of its ASEAN peers.
It increased to 12.9599/9947 from 12.9599/9947 to 12.9468/13.0121, while RingPit fell from 3.2892/2041 to 3.2892/2041 to 3.2862/2934 to 7.60/7.64 from 7.60/7.64, 7.60/7.60/7.64444444. 260.1/261.4 259.5/260.2 from.
