Ringgit gains against US dollar ahead of inflation data
The Malaysian currency strengthened to 4.0805/0850 at 6pm, while trading was mixed against other major currencies.
Malaysia’s ringgit strengthened against the US dollar on October 14 as risk appetite improved before the publication of US inflation figures. Sentiment also benefited from the Budget 2027 announcement. The currency stood at 4.0805/0850 at 6pm, compared with the previous closing level of 4.0835/0880.
Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, told Bernama that markets appeared focused on the forthcoming US Consumer Price Index figures. Consensus estimates pointed to September inflation accelerating to 3.6 per cent, he said, adding that the reading would shape the Federal Open Market Committee’s decision later in October.
Against other major currencies, the ringgit advanced versus the yen, reaching 2.5751/5781 compared with 2.5833/5864 previously. It weakened to 5.4132/4192 against the pound from 5.4057/4177, and to 4.5673/5723 against the euro from 4.5654/5704.
Regional trading saw the ringgit strengthen against the rupiah to 227.9/228.2, versus 228.1/228.4 previously. Its peso rate was little changed at 6.50/6.51, compared with 6.49/6.50. It also gained against the baht, moving to 12.1498/1672 from 12.1663/1844.
