KUALA LUMPUR, May 22 — The ringgit retreated against the US dollar on Friday, ending a three-day winning streak as investors focused on geopolitical tensions and the increasingly hawkish stance adopted by central banks globally.

At 6pm, the ringgit fell to 3.9655/9700 versus the greenback from 3.9595/9630 at Thursday’s close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit was mostly in a narrow range with the US dollar today, languishing around RM3.9583 to RM3.9688.

“The ongoing negotiation between the United States and Iran are still the main focus while central banks across the globe seems to be taking a more hawkish stance,” he told Bernama.

The ringgit firmed against the US dollar for the past three days as market sentiment improved on the back of Malaysia’s trade performance, which rose 28.6 per cent year-on-year (y-o-y) to a record RM336.73 billion in April 2026.

The Ministry of Investment, Trade and Industry (MITI) earlier this week reported that the higher export figures were driven mainly by strong exports of electrical and electronic (E&E) products.

Malaysia’s trade maintained strong momentum in April 2026 with exports and imports reaching record highs despite heightened global uncertainties, including geopolitical tensions in West Asia that led to higher logistics costs, supply chain disruptions and commodity price volatility.

MITI also said exports extended their growth momentum for the 10th consecutive month, surging 36.9 per cent to a record RM182.74 billion, surpassing the previous high of RM152.77 billion recorded in December 2025 by RM30 billion, while imports rose 20 per cent to RM153.99 billion.

At the close, the ringgit traded mostly lower against a basket of major currencies.

It weakened versus the Japanese yen to 2.4925/4954 from 2.4906/4929 at Thursday’s close, slid against the British pound to 5.3245/3305 from 5.3220/3267 previously but gained against the euro to 4.6012/6064 from 4.6037/6078 yesterday.

At the same time, the local currency was mixed against regional peers.

It fell against the Singapore dollar to 3.0985/1023 from 3.0967/0997 at the close on Thursday, down against the Thai baht to 12.1421/1611 from 12.1304/1468 yesterday, but edged up against the Indonesian rupiah to 223.8/224.1 from 224.1/224.4 previously.

It was almost flat against the Philippine peso at 6.42/6.44 from 6.43/6.44. — Bernama

SEREMBAN, May 22 — Malaysia’s participation in Brics is seen as having the potential to strengthen the country’s position in global economic competition, as well as reduce dependence on the traditional financial system dominated by major powers, said Foreign Minister Datuk Seri Mohamad Hasan.

He said the formation of the bloc aims to ensure that countries of the Global South are not continually sidelined, noting that Brics accounts for about 30 per cent of global gross domestic product (GDP) and represents a significant share of the world’s population.

“Our agenda is to ensure that Brics countries are able to enhance and maximise their capabilities so that they are not left behind, especially in the post-Covid-19 period.

“Furthermore, many countries are burdened with debt, so I believe the global financial system also needs to be reviewed. We no longer want to be overly dependent on a single system,” he told reporters after launching the Sekolah Menengah Kebangsaan Seri Sendayan athletics championship here today.

Mohamad, who is also Rembau MP and Rantau assemblyman, said Malaysia is now expanding the use of local currencies in trade with neighbouring countries, including Asean members, to reduce reliance on third-party currencies.

He said, at the same time, efforts are being strengthened to boost trade among member countries and reinforce their respective currencies through regional economic cooperation.

“This is why the ringgit is strengthening, as the country’s trade volume has increased significantly. In fact, in the first quarter of this year alone, Malaysia’s total trade exceeded RM1 trillion.

“Malaysia is a trading nation. Any effort to enhance national trade must be carried out in an orderly manner. We do not want to be overly exposed to the use of foreign currencies; it is better for us to trade using our own currencies and through our respective central banks,” he said.

Meanwhile, Mohamad said Malaysia can play an important role in Brics given its position as an Asean member and an active trading nation at the international level.

He said Malaysia can leverage the principles of multilateralism shared by Brics and Asean to strengthen governance and enhance investor confidence in the country.

He added that Malaysia continues to be a preferred destination for foreign investors due to its clear, consistent and principled foreign policy, including its commitment to neutrality and its firm stance against human rights violations. — Bernama