KUALA LUMPUR, May 20 — The ringgit firmed against the United States (US) dollar as market sentiment improved on the back of Malaysia’s trade performance, which rose 28.6 per cent year-on-year (y-o-y) to a record RM336.73 billion in April 2026.
At 6pm, the ringgit edged up to 3.9675/9715 versus the greenback from 3.9745/9785 at Tuesday’s close.
Earlier, the Investment, Trade, and Industry Ministry (MITI) reported that the higher export figures were driven mainly by strong exports of electrical and electronic products.
The country's trade maintained strong momentum in April 2026, with exports and imports reaching record highs despite heightened global uncertainties, including geopolitical tensions in West Asia, which led to higher logistics costs, supply chain disruptions, and commodity price volatility.
MITI added that exports extended their growth momentum for the 10th consecutive month, surging 36.9 per cent to a record RM182.74 billion, surpassing the previous high of RM152.77 billion recorded in December 2025 by RM30 billion, while imports rose 20 per cent to RM153.99 billion.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit is firming against the US dollar as the situation in West Asia remained unresolved, while geopolitical risks remained wobbly.
“The market is also concerned over the higher inflation rate globally following the blockade of the Strait of Hormuz and how the central bank would respond to cost-induced inflation. These have been the key factors driving market sentiments,” he told Bernama.
At the close, the ringgit traded higher against a basket of major currencies.
It strengthened versus the Japanese yen to 2.4942/4969 from 2.4980/5006, appreciated against the euro to 4.5975/6022 from 4.6180/6226 at yesterday's close, and gained against the British pound to 5.3089/3143 from 5.3282/3336 previously.
At the same time, the local currency traded mixed against regional peers, rising against the Singapore dollar to 3.0969/1003 from 3.1022/1055 at Tuesday’s close and rising against the Thai baht to 12.1341/1516 from 12.1719/1898.
The local currency was flat against the Philippine peso at 6.43/6.44 versus 6.43/6.45 on Tuesday and weakened against the Indonesian rupiah to 224.7/225.0 from 224.4/224.8 yesterday.
