KUALA LUMPUR, March 11 — The ringgit opened firmer against a basket of major currencies but was flat against the US dollar today, supported by resilient domestic economic data amid heightened geopolitical tensions and mixed global signals.
At 8 am, the local currency stood unchanged at 3.9200/9355 against the greenback from yesterday’s close of 3.9200/9260.
According to the Department of Statistics Malaysia (DOSM), the country’s Industrial Production Index (IPI) rose 5.9 per cent year-on-year in January 2026, driven mainly by stronger performance in the manufacturing sector.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid told Bernama that historical economic data confirm that economic activities have been resilient.
"However, it remains to be seen how such momentum can be carried through in the months following the shock from the war in Iran.
"Some countries are now grappling with high oil prices as fear over inflationary pressures seeps in," he said, adding that the ringgit is expected to remain sideways against the US dollar today, possibly in the region of RM3.9000 to RM3.9500.
He added that the situation in West Asia continues to hog the limelight.
"Conflicting signals from the Trump administration have led to volatile moves in Brent crude, which touched as high as US$94.8 per barrel but later stabilised around US$87.80 per barrel.
"The US Dollar Index (DXY) fell 0.35 per cent to 98.826 points while spot gold prices were hovering at US$5,192.74 per ounce," he said.
He said economic data showed that China’s exports jumped 39.6 per cent in February after growing at a rate of 10 per cent in the previous month, and export growth to the US turned positive at 9.7 per cent after remaining in contraction since April last year.
Similarly, Japan’s fourth-quarter 2025 gross domestic product came in better than expected at 1.3 per cent after declining by 2.3 per cent in the preceding quarter.
At the open, the ringgit rose against the Japanese yen to 2.4796/4896 from 2.4859/4899 at Tuesday's close, climbed against the British pound to 5.2606/2814 from 5.2744/2824 and was firmer against the euro at 4.5519/5699 from 4.5668/5738.
The local note traded mixed against most ASEAN currencies.
It edged up against the Singapore dollar to 3.0784/0910 from 3.0806/0855, and fell against the Thai baht to 12.4055/4659 from 12.3941/4205.
It was flat against the Indonesian rupiah at 232.4/233.4 from 232.4/232.9 and remained unchanged against the Philippine peso at 6.65/6.68 from 6.65/6.67 yesterday.
