By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, Oct 7 (Bernama) -- The ringgit opened higher against the US dollar, supported by renewed buying interest amid optimism that the Malaysian government will maintain fiscal discipline and gradually reduce the fiscal deficit as a percentage of gross domestic product in Budget 2026.
At 8 am, the local note increased to 4.2100/2205 versus the greenback compared with yesterday’s close of 4.2135/2180.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said attention will be focused on the tabling of Budget 2026 on Friday, which is expected to drive market sentiment this week.
He also highlighted the need to stimulate domestic demand.
“Traders are watching this space. On that note, the ringgit is likely to trade between RM4.21 and RM4.22 today,” he told Bernama.
The ringgit was traded mixed against a basket of major currencies in today’s early session.
It decreased versus the euro to 4.9295/9418 from 4.9155/9207 at Monday’s close, weakened vis-à-vis the British pound to 5.6768/6909 from 5.6608/66691, but appreciated against the Japanese yen to 2.7996/8067 from 2.8019/8051 previously.
The local note traded mostly higher against ASEAN currencies. It appreciated against the Thai baht to 12.9614/9994 from 12.9810/13.0009 yesterday, improved versus the Indonesian rupiah to 253.8/254.6 from 254.0/254.4 and rose versus the Philippine peso to 7.21/7.24 from 7.22/7.23 previously.
It fell vis-à-vis the Singapore dollar to 3.2603/2687 from 3.2562/2599 at Monday’s close.
-- BERNAMA
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