Kuala lumpur: The ringgit ended weaker against the US dollar on Monday, as traders and investors closely monitored the developing United States tariff situation, an analyst revealed. At 6 pm, the local currency fell to 4.2310/2400 against the greenback, compared to last Friday’s close of 4.2180/2260.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd’s chief economist, Dr. Mohd Afzanizam Abdul Rashid, highlighted the impact of US President Donald Trump’s recent comments regarding an additional 10 percent tariff for countries aligning with BRICS. On Sunday, Trump stated that any nation supporting BRICS’ ‘anti-American policies’ would face the tariff increase.

Dr. Mohd Afzanizam noted, “This indicates a resurgence of tariff fears as the 90-day pause period is nearing its end this week.” He further mentioned that the US Dollar Index (DXY) rose by 0.03 percent to 97.208 points, reflecting a risk-off sentiment in the market.

Despite the ringgit’s decline against the US dollar, it performed better against a range of major currencies. It appreciated against the euro, trading at 4.9647/9752 compared to 4.9675/9770 on Friday. It also strengthened against the Japanese yen, rising to 2.9091/9155 from 2.9225/9282, and saw a slight gain against the British pound, moving to 5.7563/7685 from 5.7601/7710 previously.

The local currency also showed improvement against its ASEAN counterparts. It gained against the Singapore dollar, trading at 3.3096/3172 from 3.3114/3182 on Friday, and edged higher against the Philippine peso, at 7.46/7.48 from 7.47/7.49 previously. Additionally, it strengthened against the Thai baht, reaching 12.9837/13.0173 from 13.0302/0609, and remained steady against the Indonesian rupiah at 260.5/261.2 compared to 260.6/261.2 on Friday.