Ringgit Ends Higher Against Us Dollar On Budget 2027 Fiscal Discipline

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Oct 9 (Bernama) -- The ringgit closed higher against the US dollar on Friday, supported by the government’s commitment to fiscal consolidation under Budget 2027, an analyst said.

At 6 pm, the ringgit climbed to 4.0830/0875 against the greenback from Thursday’s close of 4.0890/0940.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Malaysia’s fiscal deficit is expected to narrow to 3.3 per cent of gross domestic product (GDP) next year from an estimated 3.6 per cent in 2026. “The expected narrowing of the fiscal deficit suggests that the government remains committed to fiscal discipline, which can effectively help bolster confidence among traders and investors towards the ringgit,” he told Bernama today.

At the close, the ringgit traded mixed against a basket of major and ASEAN currencies.

The local note rose against the Japanese yen to 2.5791/5821 from 2.5834/5867 at Thursday’s close, but dipped against the British pound to 5.4063/4123 from 5.3930/3996 and eased against the euro to 4.5807/5858 from 4.5719/5775 previously.

Against its ASEAN peers, the local note climbed against the Indonesian rupiah to 228.1/228.4 from 228.2/228.6, but remained unchanged against the Philippine peso at 6.50/6.51.

It edged down against the Singapore dollar to 3.1896/1934 from 3.1893/1934 at Thursday’s close, and slid against the Thai baht to 12.1735/1909 from 12.1371/1563 previously.

-- BERNAMA