KUALA LUMPUR: The ringgit closed higher against the US dollar and other major currencies yesterday, supported by positive market sentiment following the Budget 2027 announcement last week, an analyst says.

At 6pm, the ringgit strengthened to 4.0820/0865 against the greenback from Friday’s close of 4.0830/0875.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam said Budget 2027 reflected the government’s commitment to fiscal discipline, prompting a favourable response from investors.

“The ringgit was positive against the greenback despite the heightened external risk, with Brent crude oil prices staying elevated. The weekend attack at a Saudi airport in Riyadh suggests the war in West Asia could potentially escalate to a wider conflict,” he told Bernama.

At the close, the ringgit traded higher against a basket of major currencies.