World · Malaysia Bureau
Ringgit strengthens against dollar as crude oil prices decline
The Malaysian ringgit gained ground against the US dollar on the back of easing concerns over Middle East crude supply disruptions. The local currency traded at 4.0955/4.1015 as investors moved back into riskier assets.
LSN Malaysia ·
The ringgit extended its gains in early trading as regional sentiment improved following a moderation in global crude oil prices. Concerns about potential supply disruptions from Middle East tensions have abated, prompting investors to take on greater risk exposure in emerging market currencies.
The local note moved to 4.0955/4.1015 against the greenback, reflecting stronger demand for the ringgit as commodity-linked currencies benefited from the softer oil price environment. Market participants said the easing of geopolitical tensions in key oil-producing regions boosted appetite for higher-yielding assets.
Analysts noted that the ringgit's performance remained closely tied to crude oil dynamics and broader US dollar movements. The currency's appreciation also reflected Malaysia's position as an oil and gas exporter, with investors factoring in improved economic prospects as energy prices stabilize.
Traders will continue monitoring developments in global oil markets and the US Federal Reserve's monetary policy stance for direction in coming sessions.