KUALA LUMPUR, Jan 26 — The ringgit strengthened to 3.968 per US dollar, hovering near its strongest level in several years amid improved risk appetite and a softer greenback.

The exchange rate was based on data published on the website of US-based news organisation CNBC at 10.59am Malaysian time.

The ringgit was last seen trading around similar levels in 2018, when it briefly firmed below the RM3.98 mark against the US currency.

The gains followed Bank Negara Malaysia’s decision to keep the Overnight Policy Rate unchanged.

According to a report in Bernama today, analysts said broader US dollar weakness — partly driven by foreign exchange market interventions linked to developments in Japan — has underpinned the ringgit’s rise.