Ringgit opens slightly higher as markets eye Budget 2027
The local note rises to 4.0845/4.0895 as investors await clues on the direction of the country’s fiscal deficit.
KUALA LUMPUR: The Malaysian ringgit began the trading day marginally higher against the US dollar on Thursday as investors awaited the announcement of the 2027 Budget. At 8am, the ringgit was trading at 4.0845/0895 against the greenback, up from Wednesday's close of 4.0850/0895. Despite the US dollar's strength following the Federal Open Market Committee's (FOMC) meeting, which saw the US Dollar Index (DXY) rise by 0.40 per cent to 102.242 points, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid noted that the ringgit still edged higher.
The currency remains within a narrow range, awaiting the 2027 Budget for insights into the nation's fiscal deficit, especially in light of energy price shocks that could impact the 3.5 per cent target for gross domestic product growth in 2026. At the opening, the ringgit traded mostly lower against other major currencies, easing slightly against the euro to 4.5746/5802, weakening against the Japanese yen to 2.5833/5867, and strengthening against the British pound to 5.3968/4035.
Against regional currencies, the ringgit showed mixed performance, edging up against the Singapore dollar to 3.1913/1954, weakening against the Thai baht to 12.1422/1646, remaining unchanged against the Philippine peso at 6.51/6.52, and unchanged against the Indonesian rupiah at 228.3/228.7.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Ringgit opens slightly higher as markets eye Budget 2027 freemalaysiatoday.com
- Ringgit opens slightly higher against US dollar as markets eye 2027 Budget nst.com.my
