Ringgit edges up against US dollar ahead of Budget 2027
The currency weakened against the euro, British pound and most ASEAN peers, while gaining against the Japanese yen and Philippine peso.
The ringgit finished trading on Oct 6 at 4.0835/0880 against the US dollar, a slight improvement from the previous close of 4.0845/0890. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors were watching Budget 2027 for signals to guide trading.
He expects trading in the ringgit to remain within a narrow band before the budget is tabled. The currency ranged from RM4.0848 to RM4.0880 during the session, while the US Dollar Index (DXY) fell 0.14 per cent to 102.028 points.
Despite that decline, Mohd Afzanizam told Bernama that the DXY remained elevated. Expectations for higher US interest rates would likely keep supporting the dollar, he said.
Elsewhere, the ringgit ended weaker against most of the major currencies and ASEAN peers quoted. Its closing rates, compared with the previous close, were:
- Japanese yen: strengthened to 2.5807/5837 from 2.5858/5886.
- Euro: weakened to 4.5907/5957 from 4.5775/5825.
- British pound: declined to 5.4066/4125 from 5.4022/4081.
- Philippine peso: improved to 6.50/6.51 from 6.52/6.53.
- Singapore dollar: slipped to 3.1935/1975 from 3.1905/1943.
- Indonesian rupiah: eased to 228.1/228.4 from 227.9/228.3.
- Thai baht: weakened to 12.1424/1609 from 12.1234/1411.
