Ringgit Rise: Continued Currency Increase Expected
- The ringgit is trading at its strongest level against the US dollar in seven years, briefly dipping below the 4.00 mark on Friday, and analysts predict continued appreciation...
- As of today, January 24, 2026, the ringgit has gained 1.37% against the dollar year-to-date, trading around RM4.00 per US dollar, compared to RM4.06 at the beginning of...
- Since Datuk Seri Anwar Ibrahim became Prime Minister on November 24, 2022, the ringgit has appreciated by nearly 11%, rising from approximately RM4.50 against the dollar.
Ringgit Reaches Seven-Year High, Expected too Strengthen Further
The ringgit is trading at its strongest level against the US dollar in seven years, briefly dipping below the 4.00 mark on Friday, and analysts predict continued appreciation throughout 2026. This strengthening is attributed to a weakening US dollar and positive domestic economic factors.
As of today, January 24, 2026, the ringgit has gained 1.37% against the dollar year-to-date, trading around RM4.00 per US dollar, compared to RM4.06 at the beginning of the year. It closed the week at 4.0025, after reaching an intraday low of 3.998.
Since Datuk Seri Anwar Ibrahim became Prime Minister on November 24, 2022, the ringgit has appreciated by nearly 11%, rising from approximately RM4.50 against the dollar.
“The move in the US dollar/ringgit pair below the 4.00 psychological mark reflects growing unease over the longer-term outlook for US dollar based assets,” said Stephen innes, managing partner at SPI Asset Management.
“Investors are becoming increasingly uneasy about the longer-term US story – large fiscal deficits, heavy debt issuance and the sense that the dollar’s premium is slowly being eroded.”
Analysts suggest investor concerns regarding the US economy, including considerable fiscal deficits and increasing debt issuance, are contributing to the dollar’s decline and bolstering the ringgit.