KUALA LUMPUR, July 28 — The ringgit opened higher against most major currencies on Tuesday but eased against the US dollar, weighed down by market sentiment amid lingering uncertainty over US-Iran negotiations.

At 8 am, the local currency was at 4.0850/0900 against the greenback from 4.0835/0875 at  Monday’s close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the odds are for an interest rate rise in the US, which will lead to a rise in the value of the greenback.

“Traders and investors will be focusing on the US Federal Open Market Committee (FOMC) scheduled for today and tomorrow (July 28-29, 2026).

“As such, the ringgit-US dollar pair is expected to continue to trade within a narrow range today,” he told Bernama.

The ringgit traded higher against a basket of major currencies at the opening today.

It edged up against the Japanese yen to 2.4940/4973 from 2.4969/4994 at yesterday’s close, appreciated vis-a-vis the euro to 4.6438/6495 from 4.6536/6581, and rose versus the British pound to 5.4281/4348 from 5.4433/4486 previously.

The ringgit was mixed against regional currencies.

It strengthened against the Singapore dollar to 3.1627/1669 from 3.1653/1686 and ticked up vis-a-vis the Thai baht to 12.1379/1589 from 12.1612/1775, previously.

The local currency weakened against the Indonesian rupiah to 226.8/227.2 from 226.7/227.0 and was flat vis-a-vis the Philippine peso at 6.62/6.63. — AFP