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Ringgit Set for 4.06 to 4.09 Range Next Week

By Markets Desk · 2026-09-20 · 1 min read
A stack of Malaysian ringgit banknotes resting on a wooden desk next to a US dollar bill
Illustration: Tradingbird

The Malaysian currency is forecast to trade within a tight band as traders await Fed commentary.

The ringgit is projected to trade between 4.06 and 4.09 against the US dollar next week. Analysts expect the currency to remain range-bound during this period. Market focus will shift to upcoming speeches by US Federal Reserve officials.

Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, provided this outlook. He noted that the Fed forecasts one more 25-basis point rate hike this year. Traders will monitor the degree of conviction behind future rate decisions.

Fed decisions drive currency caution

Rising fuel prices keep inflation risks elevated. This factors into the Fed's interest rate strategy. The ringgit-dollar pair is expected to stay cautious in response.

The currency weakened on a Friday-to-Friday basis. It moved to 4.0795/0840 from 4.0685/0725 the previous week. This reflects a slight decline in value against the greenback.

Gains against major global peers

The ringgit appreciated against a basket of major currencies. It rose against the British pound to 5.4543/4603. The currency also gained ground against the Japanese yen and the euro.

Specifically, the rate versus the yen improved to 2.5829/5860. The exchange rate against the euro tightened to 4.6849/6901. These moves indicate strength against these specific fiat currencies.

Mixed performance in ASEAN region

The local currency generally strengthened against ASEAN peers. It edged up versus the Singapore dollar to 3.1933/1971. The ringgit also gained against the Thai baht and the Indonesian rupiah.

The rate versus the Thai baht moved to 12.2383/2562. The exchange rate against the rupiah shifted to 229.7/230.0. However, the ringgit slipped slightly against the Philippine peso to 6.50/6.51.

Based on reporting by The Star, compiled by the Tradingbird desk.

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