Kuala lumpur: The ringgit ended the day mostly higher against a range of regional currencies, while maintaining its position against the US dollar, following the US Federal Open Market Committee's (FOMC) decision to keep interest rates unchanged.

According to BERNAMA News Agency, the local currency remained unchanged at 4.0875/0930 against the US dollar, compared to the previous day's close of 4.0875/0915. Bank Muamalat Malaysia Bhd's chief economist, Dr. Mohd Afzanizam Abdul Rashid, noted that the ringgit traded within a narrow range after the FOMC's announcement. The US Federal Reserve decided to maintain the federal funds rate between 3.50% and 3.75%. However, the decision was not unanimous, as three out of the 12 voting members supported an increase in the benchmark interest rate.

Dr. Mohd Afzanizam mentioned that the current outlook seemed to favor the US dollar. He suggested that the Federal Reserve's inclination to potentially raise interest rates at their next meeting on September 15 and 16, combined with rising crude oil prices, might counteract the moderation in US inflation observed in June. This could explain the 0.17% rise in the US Dollar Index, which now stands at 101.058 points.

Despite ending flat against the US dollar, the ringgit showed a mixed performance against other major currencies. It weakened against the Japanese yen, euro, and British pound, closing at 2.5029/5064, 4.6863/6926, and 5.4691/4764, respectively. Conversely, the ringgit displayed strength against several regional currencies, appreciating against the Thai baht, Indonesian rupiah, and Philippine peso. It ended at 12.1637/1852 against the baht, 225.7/226.0 against the rupiah, and 6.64/6.65 against the peso. However, the local currency faced a setback against the Singapore dollar, closing at 3.1701/1746.