Business · Malaysia Bureau
Ringgit weakens against dollar amid crude price gains
The Malaysian ringgit closed lower against the US dollar as rising Brent crude prices stoke inflation concerns ahead of major central bank rate decisions. The currency strengthened against other regional and major peers.
LSN Malaysia ·
The ringgit's performance reflected broader market uncertainties as investors awaited policy guidance from the US Federal Open Market Committee and Bank of Japan. Climbing Brent crude prices added to existing inflationary pressures, weighing on regional currencies including the ringgit against the greenback. Market analysts pointed to the divergent signals from energy markets and monetary policy expectations as key drivers of currency volatility. Against other major currencies and regional peers, the ringgit performed better, suggesting that weakness against the dollar reflected US dollar strength rather than fundamental weakness in the Malaysian unit. Traders remain focused on upcoming central bank decisions, which could reshape currency market dynamics across the region in coming sessions.