KUALA LUMPUR, Oct 9 — The ringgit closed higher against the US dollar today, supported by the government’s commitment to fiscal consolidation under Budget 2027, an analyst said.
At 6pm, the ringgit climbed to 4.0830/0875 against the greenback from yesterday’s close of 4.0890/0940.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Malaysia’s fiscal deficit is expected to narrow to 3.3 per cent of gross domestic product (GDP) next year from an estimated 3.6 per cent in 2026. “The expected narrowing of the fiscal deficit suggests that the government remains committed to fiscal discipline, which can effectively help bolster confidence among traders and investors towards the ringgit,” he told Bernama today.
