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Ringgit Opens Lower Against US Dollar but Gains Against Major Currencies

Kuala lumpur: The ringgit opened lower against the US dollar on Tuesday, influenced by firmer US economic data that boosted the greenback, while showing gains against other major currencies. According to BERNAMA News Agency, the local currency slid to 3.9540/9650 against the US dollar from 3.9440/9500 last Friday. This movement was attributed to the US manufacturing Purchasing Managers Index (PMI) rising to 52.6 in January from 47.9 in December 2025, as reported by the Institute for Supply Management (ISM). Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that the US Dollar Index (DXY) was on an upward trajectory following the release of the ISM Index for US manufacturing data, indicating increased optimism among American companies. However, the survey also revealed a degree of pessimism. He stated, 'On that note, the ringgit could experience a weaker trajectory today.' Despite its lower opening against the US dollar, the ringgit traded higher against a selection of major cu rrencies. It appreciated against the euro to 4.6649/6779 from 4.6957/7029 at last Friday's close, climbed against the Japanese yen to 2.5426/5498 from 2.5562/5603, and rose versus the British pound to 5.4059/4209 from 5.4163/4245. On the other hand, the ringgit opened lower against its ASEAN peers. It weakened versus the Singapore dollar to 3.1092/1184 from 3.1077/1127, dropped against the Thai baht to 12.5488/5941 from 12.5250/5544, and fell against the Philippine peso to 6.71/6.73 from 6.69/6.71. It also retreated against the Indonesian rupiah to 235.3/236.1 from 234.9/235.4 last Friday. The currency market was closed the previous day in observance of the Thaipusam and Federal Territory public holidays.

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