The budget exhibits the government’s commitment to fiscal consolidation, says Afzanizam Rashid.
KUALA LUMPUR: The ringgit opened lower against the US dollar, extending its downtrend from last Friday as investors turned to the safe haven greenback amidst the escalation of the conflict in the Middle East.
“Having said that, we viewed Budget 2024 as credit-positive, given the government’s commitment to fiscal consolidation. Meanwhile, SPI Asset Management managing partner Stephen Innes said as market players continue to focus on the conflict in the Middle East, the US dollar should remain intact this week.
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