Budget 2022 to set tone for ringgit

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the strong commodities performance has helped to boost the ringgit.

KUALA LUMPUR: Investors will keep a close tab on Budget 2022 which will be tabled in Parliament on Oct 29 by Finance Minister Tengku Zafrul Abdul Aziz, as it could be a decisive factor in determining their confidence with regards to the ringgit’s performance.

In early January 2021, the domestic unit breached the 4.00-level against the US dollar, depreciating to a year-to-date low of 4.24 mid-August before regaining its grounds to trade at the current level of between 4.14 and 4.19.