The ringgit continued its momentum to open higher today, buoyed by continued buying interest in the local currency amid a weaker US dollar.
At 9.50am, the ringgit was at 4.1580, stable against the US dollar since it opened early in Asian trading on Tuesday.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid expects sentiment to continue today, which could see the US dollar-ringgit pair remain around RM4.15 and RM4.16 today.
He noted that riskier assets, such as the equity market, are gaining as talks on a possible end to the US government shutdown could materialise in the near future.
It is the longest government shutdown on record and is likely to dent US economic growth in the final quarter of 2025.
Disruptions to government services, such as delays in the release of statistical data, strengthen the case for a December interest rate cut.
While the move may leave the broader fiscal dispute unresolved, it will nevertheless provide relief to the market and public sector workers.
At the open, the ringgit was stronger against a basket of major currencies.
It rose against the yen to 2.6946/2.7026 from 2.6954/2.7008 at Monday's close and rose against the euro to 4.8004/4.8142 from 4.8071/4.8163. The local currency improved against the British pound to 5.4716/5.4875 from 5.4736/5.4842 previously.
The local note was mostly higher against Asean currencies.
It strengthened against the Singapore dollar to 3.1888/3.1982 from 3.1899/3.1963 at Monday's close, rose against the Philippine peso to 7.04/7.07 from 7.05/7.06 and also rose against the Thai baht to 12.8360/12.8818 from 12.8360/12.8818 previously.
It remained unchanged against the Indonesian rupiah at 249.4/250.2 from 249.4/250.1 on Monday
