The ringgit opened stable against the US dollar this morning despite stronger US economic data, driving the currency's movement.
The market resumed operations today after being closed yesterday in conjunction with the Thaipusam public holiday.
At 9:43 am, the ringgit was trading at 3.9500, unchanged against the US dollar since opening early Tuesday trading in the Asian session.
According to the Institute for Supply Management (ISM), the US manufacturing Purchasing Managers' Index (PMI) increased to 52.6 in January 2026 compared to 47.9 in December 2025.
Bank Muamalat Malaysia Bhd Chief Economist, Dr Mohd Afzanizam Abdul Rashid informed that the US Dollar Index (DXY) was seen moving lower despite the ISM Index for US manufacturing data showing a recovery in January.
He also stated that the development prompted companies in the US to be more optimistic, although the general outlook was still overshadowed by cautious sentiment.
At the open, the ringgit traded higher against a basket of other major currencies.
It rose against the British pound to 5.4059/5.4209 from 5.4163/5.4245, rose against the euro to 4.6649/4.6779 from 4.6957/4.7029 and rose against the Japanese yen to 2.5426/2.5498 from 2.5562/2.5603.
The ringgit also traded lower against major ASEAN currencies.
It declined against the Singapore dollar to 3.1092/3.1184 from 3.1077/3.1127 and plunged against the Thai baht to 12.5488/12.5941 from 12.5250/12.5544.
It also weakened against the Philippine peso to 6.71/6.73 from 6.69/6.71 and depreciated against the Indonesian rupiah to 235.3/236.1 from 234.9/235.4 previously.
