Ringgit opens firmer versus US dollar on improved sentiment

2026-03-17 - 01:03

KUALA LUMPUR: The ringgit opened higher against the US dollar today, buoyed by improved global sentiment as investors reacted positively to developments in the oil market. At 8am, the local currency strengthened to 3.9195/3.9315 against the greenback, from Monday’s close of 3.9260/3.9310. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Dollar Index (DXY) fell 0.65% to 99.712, while Brent crude declined 2.84% to US$100.21 per barrel. “Measures by the International Energy Agency (IEA) to withdraw from strategic petroleum reserves, along with calls by US President Donald Trump for other nations to assist in ensuring the safe passage of vessels through the Strait of Hormuz, give the impression that oil supplies should improve in the immediate term,” he noted. MORE TO COME