KUALA LUMPUR: The ringgit closed higher against the US dollar and other major currencies today, supported by improved sentiment towards Asian currencies ahead of the high-stakes meeting between United States President Donald Trump and Chinese President Xi Jinping this week.
At 6 pm, the ringgit appreciated to 3.9285/9325 against the greenback from 3.9320/9360 at Tuesday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said Asian currencies were seen strengthening against the US dollar as markets looked forward to the meeting, scheduled for May 14-15, 2026.
“The market appears to be hoping for a positive outcome from the meeting, especially on issues surrounding the war in Iran and the Strait of Hormuz,” he told Bernama.
…
