LATEST NEWS   PM Anwar, Turkmenistan President Serdar Berdimuhamedov witnessed the signing of a strategic cooperation agreement between Petronas and Turkmenistan authorities-- PMO | At 6 pm, the ringgit eased to 4.1340/1395 versus the US dollar from Thursday's close of 4.1145/1195 | The collaboration opens up space for more strategic engagements in future, including exploring the great potential of Turkmenistan's natural gas sector, which has among the world's largest gas reserves - PMO | Gabungan Kelab Media Malaysia (GKMM) state affiliates receive RM10,000, GKMM receive RM30,000 from Communications Ministry - Fahmi | The achievement comes as Malaysia and Turkmenistan mark 30 years of cooperation in the energy sector, which has been a key pillar of bilateral relations between the two countries -- PMO | 
MARKET • 20/02/2026 09:28 AM

Ringgit Opens Higher Vs US Dollar Amid Geopolitical Tensions

KUALA LUMPUR, Feb 20 (Bernama) -- The ringgit opened higher against the US dollar on Friday as traders turned cautious amid escalating geopolitical tensions, an analyst said.

At 8 am, the local currency rose to 3.8965/9160 against the greenback from 3.9045/9125 at Thursday’s close.

Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said risk-off sentiment had become evident in global financial markets as traders focused on developments surrounding the US-Iran nuclear deal.

“US President Donald Trump has set a 10-day deadline to conclude negotiations. At the same time, there are reports of US military forces building up in the Middle East,” he said.

He added that the US dollar-ringgit pair was expected to trade between RM3.91 and RM3.93 as markets remained wary of further escalation.

Meanwhile, Mohd Afzanizam said recent US data showed imports had declined for five consecutive months, falling 2.6 per cent year-on-year in December 2025, while the trade deficit narrowed to US$70.3 billion from US$96.9 billion in December 2024.

He said the data suggested softer domestic demand had dampened import growth in the US economy.

“On the other hand, initial jobless claims fell slightly to 219,000 last week from 220,000 previously.

“However, claims have been trending higher since early January, indicating the labour market may be softening, with continuing claims remaining at an elevated level,” he said.

At the opening, the ringgit traded higher against a basket of major and ASEAN currencies.

It strengthened against the Japanese yen to 2.5126/5250 from 2.5221/5275 at Thursday’s close, rose versus the euro to 4.5880/6103 from 4.6073/6168, and appreciated against the British pound to 5.2469/2725 from 5.2730/2838.

Against its ASEAN peers, the ringgit advanced versus the Singapore dollar to 3.0732/0887 from 3.0817/0882, gained against the Thai baht to 12.4944/5657 from 12.5196/5521, edged up against the Indonesian rupiah to 230.8/232.0 from 231.1/231.6, and rose versus the Philippine peso to 6.72/6.76 from 6.73/6.75 previously.

-- BERNAMA

More News

Categories

Tags