KUALA LUMPUR, Oct 8 — The ringgit opened slightly higher against the US dollar today as markets awaited the tabling of Budget 2027 for clues on the direction of the country's fiscal deficit.
At 8 am, the ringgit edged up to 4.0845/0895 against the greenback from yesterday's close of 4.0850/0895.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit strengthened despite a firmer US dollar following the release of minutes from the Federal Open Market Committee (FOMC) meeting, which pushed the US Dollar Index (DXY) up 0.40 per cent to 102.242 points.
“The ringgit remains range-bound as markets await Budget 2027 for clues on the fiscal deficit, particularly amid energy price shocks that are expected to affect the 2026 target of 3.5 per cent of gross domestic product,” he told Bernama.
The ringgit traded mostly lower against major currencies at the opening.
It eased marginally against the euro to 4.5746/5802 from 4.5740/5790 and weakened against the Japanese yen to 2.5833/5867 from 2.5797/5827.
However, it strengthened against the British pound to 5.3968/4035 from 5.4049/4108.
Against regional currencies, the ringgit traded mixed.
It edged up against the Singapore dollar to 3.1913/1954 from Wednesday's close of 3.1919/1957 but weakened against the Thai baht to 12.1422/1646 from 12.1217/1386.
The local currency was unchanged against the Philippine peso at 6.51/6.52 and the Indonesian rupiah at 228.3/228.7.
