Ringgit Opens Higher on Easing Oil Prices, Geopolitical Hopes

KUALA LUMPUR, Sept 23, 2026, The ringgit opened stronger against the US dollar on Wednesday, buoyed by easing Brent crude oil prices and geopolitical developments.

At 8am, the local unit rose to 4.0680/0765 against the greenback from Tuesday’s close of 4.0730/0775. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Brent crude hovered below US$100 per barrel at US$99.25, supporting sentiment in the foreign exchange market.

Easing Oil Prices

He noted that US President Donald Trump described talks with Iranian officials at the United Nations General Assembly as “very good,” raising hopes for progress toward peace. However, Federal Reserve officials gave no clear indication on monetary policy, with futures suggesting more than 50% odds of rate hikes in October and December.

The ringgit traded higher against the euro, pound, yen, and most ASEAN peers, though it eased slightly against the Philippine peso.

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