Ringgit Closes At 4.17 Against US Dollar -- Its Strongest Level This Year
By Zufazlin Baharuddin
KUALA LUMPUR, Nov 7 (Bernama) -- The ringgit continued to rise against the US dollar at the close on Friday, touching the 4.17 level -- its strongest level so far this year -- driven by positive Malaysian economic data, steady Overnight Policy Rate (OPR) and weaker US economic data.
The local currency strengthened to more than a one-year high, surpassing the 4.1730/1790 level seen on Oct 2 last year.
At 6 pm, the ringgit increased 85 percentage-in-points to 4.1735/1775 versus the greenback from Thursday’s close of 4.1820/1845.
According to the Department of Statistics Malaysia, the Industrial Production Index expanded by 5.7 per cent in September 2025 after a growth of 4.8 per cent in the previous month, while manufacturing sector sales reached RM500.1 billion in the third quarter of 2025, reflecting a growth of 3.5 per cent compared to 3.4 per cent in the second quarter of 2025.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan told Bernama that the ringgit remained resilient, backed by strong macroeconomic backdrops and steady policy decision after Bank Negara Malaysia maintained the OPR at 2.75 per cent during its final Monetary Policy Committee meeting for the year yesterday.
He said he is maintaining his year-end forecast at 4.15 to the US dollar, underpinned by moderating US yields, improving risk sentiment and Malaysia’s robust external position.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said weak US economic data points, especially on the US labour market, has led traders and investors to believe that the possibility of an interest rate cut by the US Federal Reserve in December is still intact.
“US data showed more than 150,000 job cuts in October, the largest reduction in 20 years. Hence, the case for an interest rate cut is building for the December meeting,” he said.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It firmed versus the yen to 2.7192/7220 from 2.7202/7220 at Thursday’s close and climbed against the British pound to 5.4660/4713 from 5.4696/4729 yesterday. However, it slipped vis-a-vis the euro to 4.8154/8200 from 4.8143/8172 previously.
The local note was traded higher against ASEAN currencies.
It strengthened versus the Singapore dollar to 3.2015/2048 from 3.2034/2055 at yesterday’s close and went up against the Indonesian rupiah to 250.0/250.4 from 250.3/250.6 previously.
The ringgit also climbed against the Philippine peso to 7.07/7.08 from 7.09/7.10 on Thursday and increased vis-a-vis the Thai baht to 12.8999/9174 from 12.9178/9311.
-- BERNAMA
