Ringgit Gains Against Dollar and Major Currencies on Positive Budget 2027 Sentiment

The ringgit traded higher at 6 pm, reaching 4.0820/4.0865 per US dollar, improving on Friday’s 4.0830/4.0875 levels. Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia, said the appreciation reflects confidence in Budget 2027’s commitment to fiscal discipline, which has been well-received by markets. He added that the ringgit remained positive despite heightened external risks, including elevated Brent crude prices and a weekend attack at a Saudi airport that could widen the West Asian conflict.

Against a basket of major currencies, the ringgit rose versus the Japanese yen (to 2.5739/2.5769), British pound (to 5.4017/5.4077) and euro (to 4.5637/4.5687). Among ASEAN currencies it gained against the Indonesian rupiah (to 227.9/228.2) and Singapore dollar (to 3.1873/3.1911), stayed flat versus the Philippine peso, and slipped slightly against the Thai baht.