Kuala Lampur:Investors showed increased interest in the ringgit, leading to a marginal rise against the US dollar ahead of the Budget 2027 announcement. The ringgit closed at 4.0835/0880 against the greenback, up from Monday's 4.0845/0890.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd's chief economist, Dr. Mohd Afzanizam Abdul Rashid, indicated that the ringgit is likely to trade within a narrow range until the budget is tabled on Friday. He observed that the ringgit remained within a tight range, trading between RM4.0848 and RM4.0880, while the US Dollar Index (DXY) saw a slight decline of 0.14 percent to 102.028 points. Despite this dip, the DXY remains high, driven by expectations of increased US interest rates, which continue to support the greenback.

At the close of the trading day, the ringgit showed varied performance against other major and ASEAN currencies. It strengthened against the Japanese yen, trading at 2.5807/5837 compared to 2.5858/5886 the previous day. However, it weakened against the euro and the British pound, trading at 4.5907/5957 and 5.4066/4125, respectively.

In relation to its ASEAN counterparts, the ringgit appreciated against the Philippine peso, closing at 6.50/6.51 from the previous 6.52/6.53. Conversely, it fell against the Singapore dollar, Indonesian rupiah, and Thai baht, ending the day at 3.1935/1975, 228.1/228.4, and 12.1424/1609, respectively.