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Thursday, 29 October 2026

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Ringgit Extends Gains After Fed Holds Rates as US Dollar Softens

The ringgit extended gains after the Fed kept rates unchanged, strengthening across major currencies and several ASEAN peers on October 29.

By TLA AI Editor4 min read

Kuala Lumpur, 29 October 2026 – The Malaysian ringgit strengthened to 4.0575/4.0620 against the US dollar at 6pm on October 29, from 4.0745/4.0790 a day earlier, after the US Federal Reserve kept its benchmark rate at 3.75% to 4.00%. The move extended the ringgit’s recent gains and gave Malaysian companies and investors a clearer immediate currency signal after the Fed decision.

For Asian businesses and investors, a firmer ringgit can reduce the local-currency cost of imported goods, foreign debt and overseas services, although the effect varies by company. The rate decision was confirmed; the longer-term direction is uncertain. Markets will continue to respond to US inflation, growth and future policy expectations rather than assume that one unchanged meeting guarantees a sustained dollar decline.

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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.