Ringgit rallies against pound, euro and yen but stays flat against US dollar

Economy & Business Calculating...

🇲🇾 Malay

🇨🇳 Mandarin

🇮🇳 Tamil

↩️ Show Original

Kritik
11 Nov 2026
18
SubCategory | Markets

Ringgit rallies against pound, euro and yen but stays flat against US dollar

By Malay Mail

KUALA LUMPUR, Nov 11 — The ringgit opened higher against major currencies but remained flat against the US dollar amid renewed expectations of a possible US Federal Reserve (Fed) interest rate hike following stronger-than-expected inflation data.

At 8am, the local currency traded at 4.0540/0590 against the greenback, unchanged from Tuesday’s close of 4.0540/0580.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said US inflation data had heightened concerns over further monetary tightening, with the US Consumer Price Index (CPI) rising 0.4 per cent month-on-month in October, above the consensus estimate of 0.3 per cent.

He said the prospect of higher interest rates also pushed yield on the two-year US Treasury note up by 18 basis points to 4.74 per cent, while the US Dollar Index strengthened 0.57 per cent to 102.233 points.

“Fed Governor Christopher Waller indicated that a 50-basis point hike could happen when the Federal Open Market Committee members reconvene on Dec 8 and 9, while Dallas Fed President Larrie Logan sees at least a two-quarter-point rate hike as necessary.

“As such, the ringgit could be experiencing downward pressure following the overnight trend in the US market. The US dollar-ringgit pair could trade within an RM4.06 to RM4.08 range today,” he told Bernama.

The ringgit traded firmer against a basket of major currencies.

It rose against the Japanese yen to 2.5540/5573 from 2.5642/5669, appreciated vis-a-vis the euro to 4.5275/5331 from 4.5514/5559 and strengthened against the British pound to 5.4109/4175 from 5.4425/4479 at Tuesday’s close.

The ringgit, however, traded mixed against its Asean peers.

It improved against the Singapore dollar to 3.1627/1669 from yesterday’s close of 3.1726/1758 and climbed against the Thai baht to 12.0561/0800 from 12.1337/1497. It was almost flat vis-a-vis the Indonesian rupiah at 224.4/224.8 from 224.4/224.7 and was unchanged against the Philippine peso at 6.44/6.45. — Bernama

Source: https://www.malaymail.com/news/money/2026/11/11/ringgit-rallies-against-pound-euro-and-yen-but-stays-flat-against-us-dollar/242766

Disclaimer

The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official stance of Kritik.com.my. As an open platform, we welcome diverse perspectives, but the accuracy and integrity of contributed content remain the responsibility of the individual writer. Readers are encouraged to critically evaluate the information presented.

AI Summary

Analyzing article content...

AI-generated summary of key points

0 Comments

No comments yet. Be the first to comment!

Court Politics Donald Trump Martial Law South Korea Selangor International Business Summit 2025 Tariff Strategy Economic Reforms Trade Diversification Supply Chain Resilience Export Promotion US Malaysia Trade Fire Gas Pipeline Water

Grow Your Business With Kritikal News

Reach a wider audience and boost your sales — advertise your product here.