Kuala lumpur: The ringgit concluded the trading session on a positive note against most major currencies, while maintaining stability against the US dollar. At 6 pm, the ringgit stood unchanged at 3.9630/9670 against the greenback, marking a steady stance in the foreign exchange market.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd's chief economist Mohd Afzanizam Abdul Rashid highlighted that the government is implementing a targeted approach to enhance small businesses' access to financing amid challenging times. This strategy is contributing to positive market sentiment. In the early session, the ringgit appreciated slightly by 0.09 per cent to RM3.9615 against the US dollar.

Meanwhile, the US Dollar Index remained steady at 98 points, with no significant developments in the ongoing negotiations between the United States and Iran. 'It appears that the markets are hopeful that some resolution can be achieved between the two countries,' Afzanizam told Bernama.

By the close of the trading day, the ringgit had strengthened against a basket of major currencies. It rose against the euro, trading at 4.6312/6358 from the previous close of 4.6343/6390. The ringgit also gained slightly against the Japanese yen, moving to 2.4808/4834 from 2.4809/4836, and appreciated against the British pound, trading at 5.3429/3483 from 5.3504/3558.

However, the ringgit's performance against regional currencies was mixed. It appreciated against the Singapore dollar to 3.1009/1043 from 3.1041/1075 and rose against the Philippine peso to 6.52/6.53 from 6.55/6.56. Conversely, it weakened against the Thai baht, falling to 12.2183/2363 from 12.2066/2242, and eased against the Indonesian rupiah, trading at 230.0/230.3 from 229.2/229.5.