Qualampur: Ringit is estimated to trade within the range of 4.42–4.45 against the US dollar next week, with short-term volatility on broad market dynamics.
Uob Kay Hian Wealge Advestors SDN BHD Head of Investment Research, Mohammad Sadek Jantan, said Ringit’s trajectory will be shaped by external factors, especially the United States (US) trade policy, China’s economic possibilities and global risk sentiments.
He said, “With the US set to apply mutual tariffs on April 2, uncertainty remains and any decline in risk hunger can be safe-heaven assets such as flowing into US dollars, potentially limiting further forward ringiting benefits,” he told Bernma.
However, Mohammad Sadek stated that Iranian crude exports and high oil prices supported by US restrictions on cuts in production may offer some telwinds for the ringt, which sees Malaysia’s position as a net oil exporter.
Additionally, a continuous recovery in China’s economy may carry forward the regional sentiment and Malaysia’s export sector, leading to the currency outlined.
Local currency finished the week against Greenback at 4.4180/4220, improved from 4.4410/4455 last week.
Ringit did high business against other major currencies.
It increased the Japanese yen from 2.9809/9842 to 2.9574/9602 last week, increased against British pounds from 5.7151/7463 to 5.7151/7203 and increased the euro from 4.7843/7886 to 4.8194/8243.
The local note also did more business against ASEAN currencies.
It appreciated Singapore Dollar vs 3.3081/3277 to 3.3081/3114, 13.0436/0608 to 13.1820/2020 against Thai Baht, 271.6/268.0 to 267.72.0.0 and 268.020 to 720.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.720.720.720.720.720.720.720.720.7277 from 267.720.020.02020 to 72020 to 72020 to 72020 to 72020. 7.75/7.77 last week.
