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KUALA LUMPUR,June,2026 – The Malaysian ringgit opened slightly higher against the US dollar on Monday, supported by lower crude oil prices and improved market sentiment in the regional currency market.
At 8am, the local currency stood at 4.0855/0950 against the greenback, compared with last Friday’s close of 4.0860/0910. The marginal improvement showed continued support for the ringgit as investors reacted to softer crude oil prices and signs that concerns over global oil supply disruption may be easing.
The ringgit’s movement was closely linked to developments in the global oil market. West Texas Intermediate crude was trading around US$69.87 per barrel, while Brent crude stood at about US$72.46 per barrel. The lower crude oil price environment helped reduce inflation pressure concerns and supported investor confidence toward regional currencies, including the ringgit.
Market attention remains focused on the Strait of Hormuz, one of the world’s most important oil shipping routes. Continued shipping activity through the strait has helped ease fears of a major oil supply disruption, especially after recent geopolitical tensions involving the United States and Iran.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US and Iran are expected to continue negotiations, while ongoing shipping through the Strait of Hormuz suggests that oil shortage concerns may ease. He expects the US dollar-ringgit pair to trade between RM4.08 and RM4.10 for the day.
The ringgit also traded higher against several major currencies at the opening. It strengthened against the British pound to 5.3929/4054 from 5.4013/4079 at last Friday’s close. The local note also rose against the euro to 4.6526/6634 from 4.6605/6662 previously.
Against the Japanese yen, the ringgit was marginally higher at 2.5258/5318 compared with 2.5283/5316 at the previous close. The stronger performance against major currencies reflected broader support for the Malaysian currency as market sentiment improved.
However, the ringgit traded mixed against regional currencies. It appreciated against the Singapore dollar to 3.1560/1639 from 3.1581/1625 at last Friday’s close. Against the Indonesian rupiah, the local note was almost flat at 227.9/228.6 from 227.9/228.3 previously.
The ringgit was unchanged against the Philippine peso at 6.66/6.68, compared with 6.66/6.67 previously. It also improved against the Thai baht to 12.2284/2627 from 12.2445/2643 at the previous close.
The latest movement suggests that the ringgit remains sensitive to both external and domestic factors, particularly crude oil prices, global risk sentiment, US dollar strength, and geopolitical developments in the Middle East.
Lower crude oil prices can influence currency markets by reducing fears of higher global inflation and easing pressure on energy-importing economies. For Malaysia, market stability in oil prices and continued trade flows through key shipping routes remain important factors for investor confidence.
Analysts are expected to continue monitoring the direction of crude oil prices, US-Iran negotiations, and global demand for the US dollar. Any renewed tension in the Strait of Hormuz or sudden movement in oil prices could affect short-term trading sentiment for the ringgit.
the Malaysian currency is expected to remain range-bound, with the RM4.08 to RM4.10 level against the US dollar seen as the key trading range for Monday’s session.
