Qualampur: Ringit appreciated against the US dollar in early trade, by the United States (US), a market price was monitored as the market price in uncertainty before August 1 tariff decision.
At 8.01 pm, the ringit increased to 4.2230/2450 against the greenback, compared to the closure of 4.2320/2365 on Monday
Bank Malaysia Malaysia BHD Chief Economist Dr. Mohammad Afzanim Abdul Rashid said that he hopes that Ringit will maintain his positive performance today.
However, he reported that uncertainties on American tariffs will affect market sentiments.
Mohammad Afzanim said that the American officer’s signs were mixed and uncertain, US Treasury Secretary Scott Besant indicated that the Trump administration is more concerned with the quality of business agreements than its time.
“The front and back statements on tariff plans would mean that the scope of conversation is widely open,” he told Bernma.
Mohammad Afzajnizam said that the Malaysian economy performed properly in the first half of 2025, and the bank Negara must help in Malaysia’s night’s night policy rate, in collaboration with an extension fiscal policy, Malaysia’s gross domestic product growth in the second half.
He said that when the approach remains challenging, the possibilities of development for Malaysia are expected to be quite flexible.
Meanwhile, SPI Asset Management Managing Partner Stephen Inse said that this morning broad proliferation between Ringit and US dollars reflected two major factors, one of which is tested for weekend election on the Tokyo Cash Open and the open after Monday holiday, which can run in the yen, if Japanese (JGB) has a virtue.
He said, “Seasonal liquidity is thin in broad foreign exchange markets, which enhances any headline-powered swings,” he said.
Ines said that the Ringit General is a firm amidst the US dollar after being called to review the US federal reserve, removing new concerns about the freedom of the US Central Bank.
In the opening, the ringitte was an easy trading against a basket of most major currencies.
It took a dip against the Japanese yen from 2.8612/8644 to 2.8638/8789, vs. Euro from 4.9371/9628 to 4.9277/9330. Although the ringt was slightly higher than the British pound, increased from 5.6954/7015 to 5.6951/7248 on Monday.
Local notes are mostly higher than ASEAN currencies.
It grew from 3.2969/3146 to 3.29990/3028, and appreciated against Indonesian Rupiah 259.2/259.6 to 258.7/260.1 against Indonesian Rupia.
Ringit fell from 13.0754/0954 to 13.0986/1750 against Thai Baht, and increased Philippine Peso from 7.38/7.42 7.40/7.41 to 7.38/7.42. – Bernma
