Ringgit Likely To Trade On Positive Note Next Week Ahead Of BNM Policy Decision

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Nov 1 (Bernama) -- The ringgit is expected to maintain its positive momentum next week, with the upcoming Bank Negara Malaysia (BNM) Monetary Policy Committee’s (MPC) decision on the overnight policy rate (OPR) on Nov 6 likely to be the main highlight.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to trade between 4.18 and 4.20 against the US dollar next week.

“The decision will shed more light on how BNM views the economy and how this could shape its monetary policy stance going forward.

“We are pencilling in for the OPR to be maintained at 2.75 per cent, as the Malaysian economy remains resilient in light of the recent advance (gross domestic product growth) estimate for the third quarter of 2025, which came in at 5.2 per cent,” he told Bernama.

On a weekly basis, the ringgit firmed against the greenback, closing marginally higher at 4.1860/1930 compared with 4.2210/2255 last week.

The local note traded higher against a basket of major currencies.

It appreciated against the Japanese yen to 2.7162/7210 from 2.7592/7623, gained against the British pound at 5.5025/5117 from 5.6232/6292, and strengthened versus the euro to 4.8453/8534  from 4.9010/9062 at last week’s close.

The ringgit trended mostly higher against its ASEAN peers.

It rose against the Singapore dollar to 3.2185/2241 from 3.2484/2521, enhanced versus the Indonesian rupiah at 251.7/252.2 from 254.2/254.6, expanded against the Philippine peso to 7.12/7.14 from 7.20/7.21, but slipped against the Thai baht to 12.9429/9702 from 12.8768/8952 previously.

-- BERNAMA