KUALA LUMPUR, Oct 4 (Bernama) -- The ringgit is expected to trade within the range of RM4.20 to RM4.22 against the US dollar this week as traders tread cautiously amid the US government shutdown and ahead of Malaysia’s Budget 2026.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the tabling of Budget 2026 on Oct 10 will be closely watched, especially on the total allocation of the budget, the country’s gross domestic product (GDP) forecast, and the fiscal deficit target.
"In the past three years, the government has (embarked on) a fiscal consolidation exercise involving new taxes such as the low-value goods tax and capital gains tax, among others, as well as subsidy rationalisation.
"It should be positive for ringgit as the government has been consistent in its financial discipline, which can be deemed as credit-positive," he told Bernama.
On a weekly basis, the ringgit strengthened against the greenback, closing at 4.2055/2125 versus 4.2200/2250 previously.
However, the local note weakened against a basket of major currencies.
It depreciated against the Japanese yen to 2.8537/8586 from 2.8171/8206, dropped versus the euro to 4.9360/9442 from 4.9281/9340, and slid against the British pound to 5.6577/6671 from 5.6345/6412.
The ringgit traded mixed against its Asean peers, rising against the Singapore dollar to 3.2621/2678 from 3.2630/2671, and improving against the Thai baht to 12.9807/13.0084 from 13.0587/1069.
However, it eased against the Philippine peso to 7.26/7.28 from 7.25/7.27 and declined versus the Indonesian rupiah to 253.9/254.4 from 252.1/252.5 previously. -- Bernama
