Kuala lumpur: The ringgit could appreciate to RM4 against the US dollar by the end of the year with Malaysia’s bright economic prospects, Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour said today. “Insya-Allah with bright economic prospects,” he remarked when questioned about the possibility after launching the Global Islamic Finance Forum (GIFF) 2025, which was officiated by Prime Minister Datuk Seri Anwar Ibrahim.

According to BERNAMA News Agency, Finance Minister II Datuk Seri Amir Hamzah Azizan recently mentioned that the ringgit is expected to gain strength due to robust domestic spending and the government’s fiscal prudence, which helps mitigate the impact of US tariffs. Amir Hamzah noted that the local currency could strengthen to ‘just below’ RM4 against the US dollar within the next 12 months.

In its Economic Outlook 2026 report, the Finance Ministry (MoF) highlighted that the ringgit had strengthened to RM4.2253, marking a 5.8 per cent increase against the US dollar from the beginning of 2025 until the end of August 2025. The report also stated that the ringgit appreciated against several Asian currencies, including the Indonesian rupiah (8.2 per cent), Philippine peso (4.3 per cent), and Chinese renminbi (3.4 per cent), solidifying its status as one of the region’s top-performing currencies.

At 6 pm, the ringgit slightly declined to 4.2265/2295 against the US dollar, compared to Friday’s closing rate of 4.2200/2260.