KUALA LUMPUR, Oct 12 — The ringgit opened higher against the US dollar today, supported by the government’s commitment to fiscal discipline following the tabling of Budget 2027 last Friday.
At 8am, the ringgit edged up to 4.0820/0880 against the greenback from Friday’s close of 4.0830/0875.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the government’s commitment to fiscal discipline was reflected in its target to narrow the fiscal deficit to 3.3 per cent of gross domestic product in 2027, from an estimated 3.6 per cent this year.
He said the pragmatic approach should help preserve Malaysia’s sovereign credit rating, providing firm support for the ringgit.
