KUALA LUMPUR: The ringgit closed higher against the greenback today as investors' risk appetite improved ahead of the release of US inflation data, with sentiment supported by the Budget 2027 announcement last week.

At 6pm, the ringgit rose to 4.0805/4.0850 against the greenback from yesterday’s close of 4.0835/4.0880.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said market sentiment appeared to be focused on the US consumer price index (CPI) data due later tonight.