The Malaysian ringgit strengthened against the dollar, boosted by positive central bank comments and expected U.S. rate cuts.

The Malaysian ringgit opened stronger against the US dollar on Tuesday, reaching 4.2220/2315, up from 4.2265/2295 the previous day, supported by positive comments from Bank Negara Malaysia and expectations of a shift in U.S. Federal Reserve policy. Analysts anticipate the ringgit could reach RM4 per dollar by year-end, driven by strong domestic spending and improved regional market sentiment. The currency also gained against major and ASEAN currencies. Meanwhile, the FBM KLCI rose amid a regional equity rally following reduced U.S.-China trade tensions, oil prices increased, and remittances and foreign exchange reserves grew in Nepal. A civil servant lost over RM100,000 in a forex scam, while Genting Malaysia shares rose on privatization rumors.