The ringgit opened slightly higher against the US dollar on Thursday as markets awaited Budget 2027 for clues on the country’s fiscal deficit.
At 8 am, the ringgit edged up to 4.0845/0895 against the greenback from Wednesday’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 lifted the US Dollar Index (DXY) 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 3.5 per cent of gross domestic product target for 2026,” he told Bernama.
The ringgit traded mostly lower against major currencies at the opening, easing against the euro to 4.5746/5802 from 4.5740/5790 and weakening 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 was mixed, edging up against the Singapore dollar to 3.1913/1954 from 3.1919/1957 but weakening against the Thai baht to 12.1422/1646 from 12.1217/1386.
The local note was unchanged against the Philippine peso at 6.51/6.52 and the Indonesian rupiah at 228.3/228.7.
