Ringgit ends lower against the greenback

The ringgit was pressured by subdued global risk sentiment and ongoing developments in US tariffs.

PETALING JAYA: The ringgit closed lower against the US dollar yesterday, pressured by subdued global risk sentiment and ongoing developments in US tariffs, says SPI Asset Management managing partner Stephen Innes.

At 6pm, the ringgit weakened to 4.3905/3980 against the greenback, down from Monday’s close of 4.3760/3825.

Innes said reports revealed US Treasury Secretary Scott Bessent’s proposal for phased tariffs starting at 2.5%, unsettling markets.

“The phased approach softens the immediate dollar surge and gives economies room for negotiation,” he told Bernama.

Although Malaysia is not directly targeted, its economic reliance on China poses a risk. At the close, it traded higher against other major currencies.