KUALA LUMPUR, Oct 9 — The ringgit opened marginally higher against the US dollar today, with markets remaining cautious as investors continued to assess the government's fiscal outlook ahead of the tabling of Budget 2027.
At 8 am, the ringgit edged up to 4.0880/0945 against the greenback from yesterday's close of 4.0890/0940.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said markets would focus on the government's fiscal position, with expectations that it would maintain fiscal discipline and keep the fiscal deficit on a downward trajectory.
He said this was particularly important given the political considerations surrounding the Budget, with state elections approaching and a general election expected in the future.
"Maintaining fiscal discipline will continue to be key to ringgit strength, as this will ensure that the economic fundamentals support the Malaysian currency," he told Bernama.
The ringgit traded lower against major currencies at the opening.
It fell against the euro to 4.5839/5912 from yesterday's close of 4.5719/5775, weakened against the Japanese yen to 2.5862/5905 from 2.5834/5867, and eased against the British pound to 5.4076/4162 from 5.3930/3996.
Against regional currencies, the ringgit traded mixed.
It weakened against the Singapore dollar to 3.1918/1971 from yesterday's close of 3.1893/1934 and slipped against the Thai baht to 12.1468/1715 from 12.1371/1563.
The local note was unchanged against the Philippine peso at 6.50/6.51 and the Indonesian rupiah at 228.2/228.6.
