Kuala lumpur: The ringgit continued its upward trajectory against the US dollar on Wednesday, opening at a stronger position as fears of a potential United States government shutdown negatively impacted the value of the greenback. At 8.02 am, the Malaysian currency was traded at 4.1980/2190 against the US dollar, showing improvement from Tuesday's closing rate of 4.2050/2090.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd's chief economist Dr. Mohd Afzanizam Abdul Rashid noted that ongoing concerns surrounding a US government shutdown are likely to bolster the ringgit. Additionally, anticipations of reduced US interest rates could further undermine the dollar's strength. Dr. Mohd Afzanizam commented, "The local note may attempt to break the psychological level of 4.20 after closing 0.25 percent higher yesterday."

The ringgit also demonstrated gains against a range of major and regional currencies. It appreciated to 2.8348/8491 against the Japanese yen from the previous close of 2.8420/8447. Against the British pound, the ringgit rose to 5.6417/6699 from 5.6532/6586, and it improved to 4.9251/9497 against the euro from 4.9405/9452.

In regional currency trading, the ringgit advanced to 3.2530/2695 against the Singapore dollar from Tuesday's rate of 3.2604/2638. It also edged up against the Indonesian rupiah at 251.9/253.2 from 252.3/252.6, appreciated versus the Philippine peso at 7.21/7.25 from 7.22/7.24, and strengthened to 12.9265/9963 against the Thai baht from 12.9744/9927.