KUALA LUMPUR, Feb 25 — The ringgit held steady against a strong US dollar, closing little changed from yesterday’s level, driven by positive economic resilience as reflected in the Leading Index (LI) data.
At 6pm, the ringgit traded at 3.8900/8955 against the greenback, slightly higher from 3.8915/8980 at yesterday’s close.
According to the Department of Statistics Malaysia (DOSM), Malaysia’s economy is expected to remain resilient for the second quarter of 2026 (2Q 2026), supported by the performance of the LI in December 2025, which recorded a marginal increase of 0.1 per cent to 114.0 points from 113.9 points in the same period last year.
The LI provides an early indication of turning points in the business cycle and the near-term direction of the economy.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the US Conference Board Consumer Confidence Index (CCI) rose to 91.20 points in February from 89.0 points in the preceding month.
He told Bernama that data from the US indicates consumer confidence remains weak, with the rising cost of living being the main concern according to survey responses.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It strengthened versus the Japanese yen to 2.4848/4885 from 2.4968/5011 at Tuesday’s close, rose against the euro to 4.5855/5920 from 4.5873/5950, and it edged down vis-a-vis the British pound to 5.2585/2659 from 5.2531/2619 previously.
The local note traded mostly lower against its ASEAN peers.
The ringgit was marginally down versus the Singapore dollar to 3.0736/0782 from 3.0726/0780 at yesterday’s close, weakened against the Indonesian rupiah to 231.5/231.9 from 231.2/231.7 and tumbled against the Philippine peso to 6.76/6.78 from 6.74/6.75 previously.
However, it climbed versus the Thai baht to 12.5121/5374 from 12.5463/5726 yesterday. — Bernama
