{
  "id": 13838640,
  "title": "Ringgit opens higher as Budget’s fiscal discipline boosts sentiment",
  "url": "https://urgent.news/2026/10/12/ringgit-opens-higher-as-budgets-fiscal-discipline-boosts-sentiment",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T01:13:15.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/money/2026/10/12/ringgit-opens-higher-as-budgets-fiscal-discipline-boosts-sentiment/238736"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR, Oct 12 — The Malaysian ringgit opened higher against the US dollar on Monday, buoyed by the government's pledge to fiscal discipline following the presentation of Budget 2027 last Friday. By 8am, the ringgit climbed to 4.0820/0880 against the greenback, from Friday's close of 4.0830/0875. Analyst Dr Mohd Afzanizam Abdul Rashid of Bank Muamalat Malaysia Bhd attributed the optimism to the government's target of narrowing the fiscal deficit to 3.3% of gross domestic product in 2027, down from an estimated 3.6% this year. He noted that this pragmatic approach would help safeguard Malaysia's sovereign credit rating, providing solid support for the ringgit.\n\nHowever, Dr Rashid cautioned that external conditions remained uncertain, particularly geopolitical developments in West Asia and their potential impact on global crude oil prices. He indicated that market attention would be focused on whether the US Federal Reserve would consider further interest rate hikes this month. Consequently, analysts forecasted that the ringgit-US dollar pair would maintain its narrow range throughout the day.\n\nThroughout the early trading session, the ringgit demonstrated strength against a variety of currencies. The local currency strengthened against the British pound, rising from 5.4063/4123 to 5.4038/4117 at the opening. Similarly, the ringgit gained against the euro, moving from 4.5807/5858 to 4.5735/5802. Conversely, it weakened against the Japanese yen, falling from 2.5791/5821 to 2.5806/5846. Against ASEAN currencies, the ringgit edged higher against the Singapore dollar, climbing from 3.1896/1934 to 3.1876/1928, and against the Thai baht, increasing from 12.1735/1909 to 12.1720/1957. The local currency also ticked up against the Indonesian rupiah, moving from 228.1/228.4 to 228.0/228.4. However, it remained unchanged against the Philippine peso at 6.50/6.51.",
  "summary": "KUALA LUMPUR, Oct 12 — The ringgit opened higher against the US dollar today, supported by the government’s...",
  "key_points": [
    "Malaysian ringgit opens higher against US dollar following Budget 2027",
    "Government pledges fiscal discipline, aims to narrow deficit to 3.3% of GDP",
    "Analyst notes potential impact of geopolitical developments on ringgit"
  ],
  "editors_take": "The government's commitment to narrowing the fiscal deficit signals a pragmatic approach to protecting sovereign credit ratings and stabilizing the local currency against global economic uncertainties.",
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Ringgit opens higher vs US dollar on fiscal discipline pledge",
        "url": "https://urgent.news/2026/10/12/ringgit-opens-higher-vs-us-dollar-on-fiscal-discipline-pledge-13836837",
        "published": "2026-10-12T00:31:00.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Ringgit opens higher vs US dollar on fiscal discipline pledge",
        "url": "https://urgent.news/2026/10/12/ringgit-opens-higher-vs-us-dollar-on-fiscal-discipline-pledge",
        "published": "2026-10-12T00:46:57.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}