The Ringgit climbed to a fresh five‑year high against the US dollar in early Wednesday trade, buoyed by a weaker greenback as the US dollar index (DXY) slipped 0.39% to 97.903 points. At 8 am, the local currency strengthened to 4.0490/0710 from 4.0615/0665 at Tuesday’s close, its strongest level since March 2021.
Ringgit Rising Against USD
Bank Muamalat chief economist Dr Mohd Afzanizam Abdul Rashid said the latest US consumer confidence data supported the Ringgit’s momentum. The currency also gained against major peers including the Yen, Pound, and Euro, and trended higher versus ASEAN currencies such as the Singapore dollar, Thai Baht, and Rupiah.
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