Ringgit Forecast to Trade Between RM4.06 and RM4.08 Against US Dollar

KUALA LUMPUR, JULY 2026 – The Malaysian ringgit is projected to trade between RM4.06 and RM4.08 against the US dollar in the coming week amid cautious market sentiment and continued geopolitical uncertainty.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors were likely to remain cautious because the United States economic calendar would be relatively quiet during the week.

However, market participants are expected to closely monitor the People’s Bank of China, which is scheduled to announce its latest loan prime rates on July 20, 2026. Attention will also turn to the European Central Bank’s monetary policy decision on July 23, 2026.

Both announcements could influence global risk sentiment, demand for major currencies and the performance of emerging-market currencies, including the ringgit.

Investors will also continue monitoring geopolitical developments in West Asia and their potential impact on global crude oil prices.

Mohd Afzanizam said West Texas Intermediate and Brent crude oil prices had remained elevated, indicating that inflationary pressures could persist throughout July. Prolonged inflationary pressure may affect market expectations surrounding interest rates and the strength of the US dollar.

On a Friday-to-Friday basis, the ringgit weakened to RM4.0930/RM4.0990 against the US dollar from RM4.0695/RM4.0745 recorded a week earlier.

The local currency also traded lower against several major currencies. It depreciated against the Japanese yen to 2.5208/2.5246 from 2.5148/2.5181 and weakened against the euro to RM4.6824/RM4.6893 from RM4.6502/RM4.6559.

Against the British pound, the ringgit declined to RM5.5018/RM5.5099 from RM5.4572/RM5.4639 previously.

The ringgit was also mostly lower against regional currencies. It fell against the Singapore dollar to RM3.1709/RM3.1758 from RM3.1520/RM3.1561 and weakened against the Indonesian rupiah to 228.4/228.8 from 225.2/225.6.

The local currency also eased against the Philippine peso to 6.64/6.66 from 6.61/6.62. However, it strengthened against the Thai baht to 12.1743/12.1965 from 12.2101/12.2302 previously.