Ringgit open higher vs US dollar amid geopolitical tensions

2026-02-20 - 00:53

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar on Friday as traders and investors turned cautious amid escalating geopolitical tensions, an analyst said. At 8am, the ringgit rose to 3.8965/3.9160 against the greenback from 3.9045/3.9125 at Thursday’s close. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said risk-off sentiment had become evident in global financial markets as traders and investors focused on developments surrounding the US-Iran nuclear deal. “US President Donald Trump has set a 10-day deadline to conclude negotiations. At the same time, there are reports of US military forces building up in the Middle East,” he said. He added that the US dollar-ringgit pair was expected to trade between RM3.91 and RM3.93 as markets remained wary following the escalation in US-Iran tensions.