Ringgit opens marginally higher as Budget 2027 fiscal outlook in focus
The local note edges higher to 4.0880/4.0945, with markets remaining cautious ahead of the tabling.
KUALA LUMPUR: The Malaysian ringgit opened marginally higher against the US dollar on Friday, keeping traders on edge as they awaited the unveiling of the Budget 2027. At 8am, the ringgit strengthened to 4.0880/4.0945 against the greenback, up from Thursday's close of 4.0890/4.0940. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid pointed out that market attention would be on the government's fiscal position, with hopes of continued fiscal discipline and a downward trend in the fiscal deficit.
Given the political context, including upcoming state and general elections, maintaining fiscal discipline was deemed crucial for the ringgit's strength, thereby supporting economic fundamentals, Rashid added. The ringgit slipped against major currencies, weakening against the euro, Japanese yen, and British pound, while showing mixed performance against regional currencies like the Singapore dollar and Thai baht.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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