KUALA LUMPUR: The ringgit closed marginally higher against the US dollar on Tuesday as investors kept a close watch on Budget 2027, to be tabled on Friday, for fresh trading cues, an analyst said.

At 6pm, the ringgit climbed to 4.0835/4.0880 against the greenback from yesterday’s close of 4.0845/4.0890.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the ringgit is expected to trade within a narrow range ahead of the tabling of Budget 2027.

He noted that the ringgit maintained its tight range bias today, moving between RM4.0848 and RM4.0880, while the US Dollar Index (DXY) dipped 0.14% to 102.028 points.

“Still, the DXY remains elevated, with expectations of higher US (interest) rates likely to continue supporting the greenback,” he told Bernama.