Ringgit expected to trade at 3.95-3.97 against US dollar

KUALA LUMPUR: The ringgit is expected to trade within a narrow range of between 3.95 and 3.97 against the US dollar amid a shortened trading week.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the focus would be on the United States’ personal consumption expenditures (PCE) data for April.

“The PCE is likely on the high side in light of the elevated petrol prices in April.”

Afzanizam said while the ringgit is expected to move in a narrow range, Malaysia’s macroeconomic indicators are fairly decent.

He also said Malaysia’s foreign exchange reserve had risen to US$129.5 billion as of May 15 compared with US$125.5 billion on Dec 31, 2025.

Last Friday, the ringgit was lower against the US dollar at 3.9655/9700 from 3.9515/9580 in the previous week.

The ringgit traded mostly easier against a basket of major currencies last week. It fell versus the British pound to 5.3245/3305 from 5.2749/2835, appreciated against the euro to 4.6012/6064 from 4.5948/6024 but gained versus the yen to 2.4925/4954 from 2.4927/4968.

The ringgit also traded mostly lower against its Asean peers. It rose versus the rupiah to 223.8/224.1 from 224.5/225 but eased vis-a-vis the Singapore dollar to 3.0985/1023 from 3.0871/0927, fell against the baht to 12.1421/1611 from 12.0989/1247 and declined against the Philippine peso to 6.42/6.44 from 6.40/6.41.

© New Straits Times Press (M) Bhd

المصدر: New Straits Times