KUALA LUMPUR, Nov 7 — The ringgit climbed to its strongest level in more than a year today, lifted by easing bets on a Bank Negara Malaysia (BNM) rate cut and renewed optimism over the country’s growth outlook, Bloomberg reported.

The local currency rose 0.1 per cent to 4.1790 against the US dollar as steady monetary policy, foreign inflows and a brighter economic outlook buoyed sentiment.

It was the ringgit’s highest level since October 2024.

Citing analysts, Bloomberg said Malaysia’s economy is benefiting from improving external demand, especially after China and the US – its two biggest trading partners – agreed to extend their tariff truce last week.

Malaysia had hosted representatives from both nations, along with other world leaders, during the 47th Asean Summit here.

The ringgit also drew support from US$1 billion (RM4.8 billion) in foreign bond inflows in October, reversing a US$1.7 billion outflow recorded in September.

BNM yesterday maintained the overnight policy rate at 3 per cent, with markets expecting it to remain unchanged over the next year.