Ringgit Up Against US Dollar, Other Major Currencies On Positive Budget 2027 Sentiment

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Oct 12 (Bernama) -- The ringgit closed higher against the US dollar and other major currencies on Monday, supported by positive market sentiment following the Budget 2027 announcement last week, an analyst said.

At 6 pm, the ringgit strengthened to 4.0820/0865 against the greenback from Friday’s close of 4.0830/0875.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam said Budget 2027 reflected the government’s commitment to fiscal discipline, prompting a favourable response from investors.

“The ringgit was positive against the greenback today despite the heightened external risk, with Brent crude oil prices staying elevated. The weekend attack at a Saudi airport in Riyadh suggests the war in West Asia could potentially escalate to a wider conflict,” he told Bernama.

At the close, the ringgit traded higher against a basket of major currencies.

The local note rose against the Japanese yen to 2.5739/5769 from 2.5791/5821 at Friday’s close, climbed against the British pound to 5.4017/4077 from 5.4063/4123 and jumped against the euro to 4.5637/5687 from 4.5807/5858.

Against its ASEAN peers, the local note climbed against the Indonesian rupiah to 227.9/228.2 from 228.1/228.4, but remained unchanged against the Philippine peso at 6.50/6.51.

It edged up against the Singapore dollar to 3.1873/1911 from 3.1896/1934 at Friday’s close, and slid against the Thai baht to 12.1391/1568 from 12.1735/1909.

-- BERNAMA