Malaysia Oversight

Ringgit weakens as US-China trade war concerns persist

By TheSun in April 25, 2025 – Reading time 1 minute
Ringgit weakens as US-China trade war concerns persist


KUALA LUMPUR: The ringgit ended the week lower as the greenback gains on hopes of an easing US- trade war.

At 6 pm, the local unit fell to 4.3705/3770 against the greenback, compared with Thursday’s close of 4.3695/3750.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit versus the US dollar was in a tight range today, hovering between RM4.3715 and RM4.3823.

“The tariff spat between the US and continues to hog the limelight with market sentiments remaining cautious,” he told Bernama.

He said there were reports that might exempt import tariff on certain items levied against the US as rising cost has weighed heavily on their businesses.

Back home, the ringgit traded mostly higher against a basket of major currencies.

It rose against the Japanese yen to 3.0431/0481 from 3.0670/0710 at Thursday’s close, gained on the euro to 4.9596/9670 from 4.9738/9801 but was almost flat versus the British pound at 5.8128/8214 from 5.8127/8201 yesterday.

Against regional currencies, the ringgit traded mixed.

It firmed against the Singapore dollar to 3.3228/3280 from 3.3307/3354, and strengthened versus the Thai baht to 13.0195/0450 from 13.0632/0874.

The local note, however, decreased against the Philippine peso to 7.77/7.78 from 7.72/7.74 and depreciated against the Indonesian rupiah to 259.6/260.2 from 258.9/259.4.



Source link