Ringgit Ends Higher On Continued US Dollar Weakness
By Siti Noor Afera Abu
KUALA LUMPUR, Aug 15 (Bernama) -- The ringgit closed the week stronger against the US dollar amid the greenback's continued weakness as the higher-than-expected US Producer Price Index (PPI) for July failed to provide lasting support for the currency.
At 6 pm, the local note rose marginally to 4.2085/2155 from Thursday's close of 4.2090/2145.
bootstrap slideshow
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit traded within a narrow range today -- between RM4.2162 and RM4.2225 -- while the US Dollar Index slipped 0.36 per cent to 97.900 points as the hotter-than-expected PPI failed to lift the US dollar on a sustained basis.
He said Malaysia's gross domestic product print held at 4.4 per cent in the second quarter of 2025 with domestic demand remaining the primary driver, while the contraction in net exports suggests that the downside to overall growth mostly emanated from the external sector.
'The downside risks to growth have become elevated due to the uncertainties over external development,' he told Bernama.
At the close, the ringgit settled mostly higher against major currencies.
It strengthened versus the Japanese yen to 2.8653/8702 from Thursday's close of 2.8703/8742 and gained against the British pound to 5.7050/7145 from 5.7146/7220, but eased vis-a-vis the euro to 4.9185/9267 from 4.9170/9234.
The ringgit traded higher against regional peers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
an hour ago
- The Sun
Melaka to shine as global tourism hub with World Tourism Day 2025
MELAKA: The upcoming World Tourism Day (WTD) celebration in Melaka is set to elevate the state's global profile and attract long-term investment opportunities. Chief Minister Datuk Seri Ab Rauf Yusoh highlighted that the event will bring international exposure, benefiting sectors like health tourism, cruise tourism, and halal tourism. 'Although this event lasts only two days, its impact could last for the next 10 years,' he said during the Melaka Government's Monthly Assembly. He emphasised that Melaka will no longer be seen just as a UNESCO World Heritage city but as a green and smart tourism hub. The event serves as a key milestone ahead of Visit Melaka Year and Visit Malaysia 2026. Ab Rauf noted that hosting WTD is a prestigious recognition from the United Nations World Tourism Organisation (UNWTO). 'This is our moment to showcase Melaka to the world,' he added. The celebration is expected to enhance the state's competitiveness and strengthen its tourism appeal globally. Increased tourist arrivals will directly benefit the local economy, creating jobs and boosting small businesses. 'More tourists mean more hotel bookings, more job opportunities,' said Ab Rauf. Local communities will also gain from selling cultural products and authentic experiences. The state government aims to maximise this rare opportunity by ensuring thorough preparations. WTD and the World Tourism Conference (WTC) will run from Sept 27 to 29, with 159 international delegates attending. - Bernama
The Sun
an hour ago
- The Sun
PLUS and LPT2 highways now feature 112 EV charging points
KUALA LUMPUR: PLUS Malaysia Berhad has expanded its electric vehicle (EV) charging network with 112 operational points along PLUS and Lebuhraya Pantai Timur 2 (LPT2) highways. The company surpassed its initial target of 100 charging points by year-end, contributing to Malaysia's goal of 1,000 fast-charging stations by 2025. PLUS managing director Datuk Nik Airina Nik Jaffar said the charging points are strategically placed at rest areas, lay-bys, and petrol stations for user convenience. She noted a growing utilisation rate of EV chargers on PLUS highways, reflecting increased adoption of electric vehicles nationwide. PLUS plans to launch Malaysia's first Highway EV Hub at Seremban R&R (Southbound) by early 2027. The company aims to energise 350 EV charging points by 2028 to further support sustainable travel. PLUS chief commercial officer Mohd Fauzi Puniran said the installed chargers are Direct Current Fast Chargers (DCFCs) for efficient long-distance travel. These chargers provide output power from 47 kW to 200 kW, enabling an 80 per cent charge in 15 to 30 minutes. The charging points feature universal CCS2 connectors compatible with most major EV brands in Malaysia. - Bernama
Barnama
an hour ago
- Barnama
KPKT Mulls Amendments To Act 118 to Cover Problematic Commercial Projects
KUALA LUMPUR, Aug 18 (Bernama) -- The Housing and Local Government Ministry (KPKT) is studying a proposal to amend the Housing Development (Control and Licensing) Act 1966 (Act 118) to expand its enforcement scope to cover problematic commercial projects. Minister Nga Kor Ming said the proposed amendments would allow for more effective and comprehensive action, including blacklisting board members of parent developer companies as well as beneficiary owners. He said the initiative aims to strengthen preventive measures and long-term actions to minimise the risk of private housing projects becoming problematic or abandoned.
