KUALA LUMPUR: In a surprising turnaround, the ringgit has surged against the US dollar, closing at a notable high today. This rebound comes as investors show heightened risk appetite for the Malaysian currency, despite the ongoing global economic uncertainties.

As of 6 pm, the ringgit was trading at 4.2215/2275 against the US dollar, reflecting a robust increase from Tuesday's closing rate of 4.2345/2430. Analysts suggest this positive shift may indicate growing confidence in Malaysia's economic stability.

With markets watching closely, the future trajectory of the ringgit will greatly depend on both domestic economic fundamentals and global financial trends. Investors are eager to see if this momentum can be maintained in the coming weeks.