Ringgit up versus the dollar as US-Iran sanctions waiver and fiscal reforms drive gains (opens original article in a new tab)

The ringgit rose against the dollar as US-Iran negotiations progressed and oil prices stabilized, with domestic fiscal reforms contributing to currency gains.

• Ringgit opened higher against the US dollar due to progress in US-Iran peace negotiations
• US-Iran sanctions waiver allowed Iran to sell oil, affecting crude prices
• Domestic diesel subsidy rationalization by the Ministry of Finance was seen as credit-positive
• Ringgit showed mixed performance against major currencies but appreciated against several ASEAN peers