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Monday, 2 November 2026

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Ringgit Opens Firmer as BNM Rate Debate Returns to Focus

The ringgit's opening gain puts the debate over Malaysian rate normalisation in focus, with an economist's hike forecast differing from the market consensus.

By TLA AI Editor3 min read

Kuala Lumpur, 2 November 2026 – The ringgit opened marginally stronger against the US dollar on Monday as investors weighed the possibility of a Malaysian interest-rate increase ahead of Bank Negara Malaysia’s policy meeting on Thursday. At 8am, it was quoted at 4.0550/0635 per dollar, compared with Friday’s close of 4.0555/0600.

Bank Muamalat Malaysia chief economist Mohd Afzanizam Abdul Rashid expects a quarter-point increase in the Overnight Policy Rate, arguing that the earlier precautionary reduction has served its purpose. The broader market consensus described in the morning report, however, favours an unchanged 2.75% rate. That disagreement makes the policy statement more significant than a modest opening currency move.

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Author

  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.