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Ringgit edges lower vs US dollar

NEWS

October 23, 2026 at 11:27 UTC

2 min read
Unbranded US dollar and Malaysian ringgit banknotes arranged to suggest a weaker ringgit against the dollar

Key Points

  • 01Ringgit closes at 4.0835/0875 against the US dollar
  • 02Currency weakens amid AI share price and bond yield concerns
  • 03Ringgit trades between 4.0813 and 4.0865 during the session
  • 04Unit mostly firmer against major and Asean currencies

Ringgit slips slightly against US dollar

The ringgit ended slightly lower against the US dollar on Friday, closing at 4.0835/0875 at 6 pm compared with 4.0815/0850 a day earlier. The modest weakening came as overall market sentiment remained cautious. Trading in the US dollar-ringgit pair stayed within a relatively tight intraday range between 4.0813 and 4.0865.

The move against the greenback followed a decline in US Treasury yields on Thursday, when investors sought safety in government bonds. That shift in global bond markets contributed to a cautious tone in foreign exchange trading at the end of the week.

AI-related stock concerns and bond yields set the tone

Market sentiment was weighed by concerns over artificial intelligence related share prices alongside falling or declining bond yields. These factors encouraged a more defensive stance among investors and limited risk-taking in the currency market.

Investors were also focused on macro policy signals ahead of the upcoming Federal Open Market Committee statement and press conference. Market expectations pointed to the federal funds rate remaining unchanged at 3.75% to 4.00%, keeping attention on how policymakers frame the outlook rather than on an immediate rate move.

Ringgit performance against other major currencies

Despite easing versus the US dollar, the ringgit was mostly higher against a basket of major currencies by the close. It rose against the British pound to 5.4633/4687 from 5.4659/4706 previously and inched up against the euro to 4.5735/5780 from 4.5790/5830.

The ringgit, however, weakened against the Japanese yen, ending at 2.6076/6103 compared with 2.6035/6057 a day earlier. Overall, the mixed performance underlined that the day’s pressure was concentrated more on the US dollar cross than on broader major-currency trading.

Stronger versus Asean peers

The ringgit was mostly higher against its Asean peers. It gained against the Singapore dollar to 3.1952/1986 from 3.1959/1992 at the previous close, reflecting modest strength in regional cross-currency trade.

It also appreciated against the Indonesian rupiah to 225.8/226.1 from 225.9/226.3. The firmer readings against regional currencies contrasted with the slight softening versus the US dollar, underscoring that local and regional factors remained relatively supportive even as global themes around AI-related stocks and bond yields influenced the dollar pair.

Key Takeaways

  • 01The ringgit’s slight decline was concentrated against the US dollar, while it mostly strengthened against major and regional currencies.
  • 02Shifts in global bond markets and sentiment toward AI-related stocks played a central role in shaping trading conditions.
  • 03Market participants are positioning cautiously ahead of the next Federal Open Market Committee statement, with rates expected to stay unchanged at 3.75% to 4.00%.

References

  1. https://www.malaymail.com/news/money/2026/10/23/ringgit-ends-easier-against-us-dollar-mixed-versus-major-currencies-amid-ai-bond-yield-concerns/240354
  2. https://www.thestar.com.my/business/business-news/2026/10/23/ringgit-ends-easier-vs-us-dollar-amid-ai-related-share-price-concerns
  3. https://thesun.my/news/ringgit-ends-mixed-against-major-and-asean-currencies/
  4. https://www.freemalaysiatoday.com/category/business/2026/10/23/ringgit-closes-lower-against-us-dollar-amid-ai-stock-concerns