Malaysia’s ringgit strengthened against the US dollar on Thursday, with Bank Negara Malaysia’s (BNM) Kuala Lumpur reference rate easing to 4.0664 ringgit per dollar on 29 October from 4.0818 the previous day. The 0.38% fall in USD/MYR means fewer ringgit were needed to buy one dollar on the official benchmark. The shift is useful context for importers and borrowers, although it does not set the rate consumers receive from banks or money changers.
BNM’s daily reference series records the currency at 4.0664 on Thursday, down from 4.0818 on Wednesday. The rate is quoted as ringgit per US dollar: a lower figure indicates a stronger ringgit against the dollar. It is a benchmark, not a guaranteed transaction price. Banks, remittance providers and money changers apply their own spreads and fees.
The The Star report carried from Bernama said the ringgit was quoted at 4.0720/0800 against the dollar at 8 am MYT, compared with Wednesday’s 4.0745/0790 close. Those are market quotes at a specific time, distinct from BNM’s daily reference rate. Investing.com’s historical USD/MYR table also showed the pair lower on Thursday, with a 4.0650 close against 4.0770 on Wednesday. Market-data providers can differ slightly because their reference times and quote methods are not identical.
The move was not broad across currencies
The ringgit’s performance against the dollar did not translate into gains against every major currency. The Star reported that the local currency rose against the Japanese yen at the open but weakened against the British pound and euro. It also slipped against the Singapore dollar and Thai baht, while trading mostly lower against major currencies overall. The mixed picture cautions against describing Thursday as a broad-based ringgit rally.
Bank Muamalat chief economist Mohd Afzanizam Abdul Rashid told Bernama that an unchanged OPR of 2.75% could support the local currency. The report also noted a 0.19% fall in the US dollar index after the Federal Reserve held its policy rate at 3.75% to 4%. These are market explanations and observations, not proof that one policy decision alone caused the ringgit’s move.
What the stronger ringgit can mean in Malaysia
If a firmer exchange rate persists, businesses paying US-dollar invoices may need fewer ringgit to settle a given bill. That can matter for imported inputs, equipment and dollar-denominated debt. The benefit depends on when payments are made, contract terms, hedging and whether counterparties pass exchange-rate changes through to prices.
- Importers paying US-dollar invoices may need fewer ringgit for a given bill if the firmer rate persists. Contract terms, hedging and supplier pricing determine how much of that change reaches costs.
- Exporters converting US-dollar sales may receive fewer ringgit. Their net exposure depends on local costs, currency mix and hedging.
A one-day benchmark move does not automatically change retail prices, company earnings or household purchasing power. Those effects depend on the size and duration of the move.
Next BNM decision is scheduled for 5 November
BNM’s 2026 Monetary Policy Committee schedule lists the next decision for 5 November, with the policy statement due at 3 pm MYT. The central bank’s overnight policy rate remains 2.75% as of its 3 September decision. The suggestion that OPR “normalisation” could support the ringgit is an economist’s market view; it is not a signal that BNM has committed to changing rates next week.
For readers tracking the currency, the next checks are BNM’s official reference rate, subsequent USD/MYR trading and the policy decision itself. The Federal Reserve’s latest rate decision offers separate global-rate context, while BullBuzz’s New Zealand dollar report shows how another central-bank decision can affect a currency differently. For domestic gold pricing, the latest Malaysia gold update provides a separate example of local prices that can also respond to global gold and currency movements.
Photo: The Star. Malaysian ringgit banknotes; illustrative image accompanying the currency update.