Kuala Lumpur:The ringgit closed higher against the US dollar and other major currencies on Monday, buoyed by positive market sentiment after the Budget 2027 announcement last week.

According to BERNAMA News Agency, the ringgit appreciated to 4.0820/0865 against the US dollar from Friday's close of 4.0830/0875. Bank Muamalat Malaysia Bhd's chief economist, Dr. Mohd Afzanizam, noted that the Budget 2027 demonstrated the government's dedication to fiscal discipline, which was well-received by investors.

Despite increased external risks, including elevated Brent crude oil prices and a recent attack at a Saudi airport in Riyadh, indicating potential escalation in the West Asian conflict, the ringgit remained positive against the greenback.

The local currency also saw gains against several major currencies. It rose against the Japanese yen to 2.5739/5769 from 2.5791/5821 and climbed against the British pound to 5.4017/4077 from 5.4063/4123. The ringgit also jumped against the euro to 4.5637/5687 from 4.5807/5858.

In relation to its ASEAN counterparts, the ringgit increased against the Indonesian rupiah to 227.9/228.2 from 228.1/228.4, while remaining unchanged against the Philippine peso at 6.50/6.51. It edged up against the Singapore dollar to 3.1873/1911 from 3.1896/1934, but slipped against the Thai baht to 12.1391/1568 from 12.1735/1909.