KUALA LUMPUR: The ringgit edged higher against the US dollar at the opening, buoyed by optimism surrounding Budget 2027.
At 8am, the ringgit was up marginally against the greenback to 4.0815/4.0900 from Monday’s close of 4.0820/4.0865.
Nevertheless, Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said heightened geopolitical risk in the Middle East and the anticipation of higher US inflation are expected to support the US dollar.
He said the situation in Riyadh, Saudi Arabia, following the missile attacks suggested that the current situation could potentially morph into a wider conflict, leading to further disruption to crude oil supplies.
