Kuala lumpur: The ringgit closed marginally higher against the US dollar today, marking its seventh consecutive day of appreciation as investors remained optimistic ahead of the United States government reopening vote.

According to BERNAMA News Agency, the ringgit appreciated to 4.1315/1385 against the greenback from Tuesday's close of 4.1360/1395. Bank Muamalat Malaysia Bhd's chief economist, Dr. Mohd Afzanizam Abdul Rashid, highlighted that the US House of Representatives is set to vote tonight on the reopening of the US government. "If approved, the bill will be signed by the US President, paving the way for the resumption of government services," he noted.

Dr. Mohd Afzanizam also mentioned that traders and investors are maintaining a positive outlook on the ringgit, especially with Malaysia's third-quarter GDP for 2025, due for announcement this Friday, expected to expand by over 5.0 percent. "The GDP could potentially reach 5.2 percent in the 3Q 2025, and it's likely that the Overnight Policy Rate (OPR) will remain at 2.75 percent in the near term. It's a ringgit-positive development, and the local unit is anticipated to stay well-supported," he added.

At the close, the ringgit demonstrated strength against a basket of major currencies. It improved against the yen to 2.6681/6728 from Tuesday's 2.6798/6822, climbed against the euro to 4.7801/7882 from 4.7829/7869, and gained against the British pound to 5.4189/4281 from 5.4297/4343.

The ringgit also showed better performance against ASEAN currencies. It strengthened against the Singapore dollar to 3.1683/1742 from 3.1752/1784, rose against the Indonesian rupiah to 247.1/247.7 from 247.7/248.0, gained against the Philippine peso to 6.98/6.99 from 7.01/7.02, and increased against the Thai baht to 12.7068/7346 from 12.7595/7762.