Ringgit Recovers from 2-Month Lows

EthereumCraftsman · 2026-04-08T05:05:18+00:00

The Malaysian ringgit strengthened as global sentiment improved and the US dollar weakened following a US-Iran agreement. Supported by stable domestic growth, controlled inflation, and Malaysia's energy export status, the ringgit recovered from recent lows.

EthereumCraftsman

2026-04-08 05:05:18

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The Malaysian ringgit rose more than 1% to around 3.98 per USD, recovering from two-month lows as global risk sentiment improved and the US dollar broadly weakened after US President Trump decided to delay a potential strike on Iran by two weeks. The move followed a US–Iran agreement to pause hostilities, with Washington agreeing to refrain from military action in exchange for Tehran’s commitment to restore safe maritime flows through the Strait of Hormuz, a critical global oil shipping route. Additionally, the ringgit was buoyed by Malaysia’s steady macro backdrop, with the central bank holding its policy rate at its March meeting, citing a supportive stance for growth and price stability. Inflation remains contained, while the economy continues to expand on the back of resilient domestic demand, stronger E&E exports, and robust tourism. The currency was further supported by Malaysia’s status as a net energy exporter and steady inflows into manufacturing and data-centre investments.

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