Bank Muamalat's Mohd Afzanizam said the upcoming Budget 2026 is likely to provide near-term support for the ringgit.
KUALA LUMPUR: The ringgit closed marginally higher yesterday against the US dollar amid renewed buying interest.
At 6pm, the local currency was quoted at 4.2125/2155 against the greenback, slightly firmer than Monday’s 4.2135/2180.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US dollar/Malaysian ringgit pair remained in a narrow range, hovering around RM4.21.
He noted that the US Dollar Index stayed elevated, supporting a stronger greenback amid ongoing political uncertainties in advanced economies.
“The upcoming Budget 2026 is likely to provide near-term support for the ringgit,” he told Bernama.
At the close yesterday, the ringgit was mostly higher against a basket of major currencies.
