Ringgit strengthens against US dollar ahead of Budget 2025
==========

The ringgit opened higher at 4.2850/3010 against the US dollar on October 14, 2024, up from 4.2865/2910, driven by optimism regarding the government's fiscal discipline and a projected fiscal deficit below 4% of GDP for next year; Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that the upcoming budget announcement would influence market sentiment; China's economy is under scrutiny, with inflation at 0.4% in September; the US Dollar Index (DXY) is at 103.021 points, indicating cautious trading for the ringgit; the ringgit also strengthened against the euro, Japanese yen, and British pound, while trading mixed against ASEAN currencies.

#Ringgit #UsDollar #Budget2025 #Malaysia #Economy #Inflation #FiscalPolicy #BankMuamalat #DrMohdAfzanizamAbdulRashid #Asean

https://www.nst.com.my/business/economy/2024/10/1119314/ringgit-strengthens-against-us-dollar-ahead-budget-2025