The Malaysian ringgit closed higher against the US dollar on Friday, according to BusinessToday Malaysia, which attributed the move to easing concerns about oil supply from West Asia. The Star also re
The Malaysian Reserve reported that the currency finished higher against most major currencies, not just the US dollar.
The reports point to a single driver: reduced anxiety over oil supply from West Asia. When fears about supply disruptions ease, currency markets in oil-linked economies such as Malaysia tend to respon
The timing is notable. The Edge Malaysia reported separately that the ringgit had sunk to a three-month low following a Federal Reserve rate hike, and FXStreet carried analysis from OCBC describing ex
The picture is mixed rather than uniformly positive. The ringgit's advance came against a backdrop of recent weakness tied to US monetary policy, and the sources do not indicate whether the recovery w
What to watch next: whether the ringgit sustains its gains in the coming sessions, or whether external pressure from US rate policy resumes and pulls the currency back toward its recent lows.
Malaysia's ringgit strengthened against the US dollar and most major currencies as concerns over oil supply from West As