Ringgit opens higher, stays under pressure amid geopolitical risks

2026-03-04 - 00:43

KUALA LUMPUR: The ringgit opened slightly higher against the US dollar today but is expected to remain under pressure amid mounting geopolitical tensions, with traders continuing to favour the greenback as a safe-haven asset. At 8am, the local currency was traded at 3.9390/3.9535 against the greenback, compared with yesterday’s close of 3.9440/3.9495. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Dollar Index (DXY) continues to climb as the global community focuses on the effects of the closure of the Strait of Hormuz. MORE TO COME