The ringgit opened stronger against the US dollar on Monday, supported by the decline in the US Dollar Index (DXY) last Friday.
At 10.10am, the ringgit was at 4.4800, recovering 0.60% against the US dollar from its close of 4.5055 at the end of last Friday.
Bank Muamalat Malaysia Bhd Chief Economist Afzanizam Rashid said the DXY fell to 107.621 points after recently exceeding 108 points.
He added that the softer-than-expected November PCE inflation data, which fell to 2.4%, combined with concerns over the risk of a US government shutdown, prompted traders to take profits from the US dollar.
The ringgit could perform well against the US dollar today as last week's selling was somewhat excessive.
However, the ringgit weakened against other major currencies.
It edged lower against the Japanese yen to 2.8749/2.8809 from 2.8747/2.8779 on Friday and fell against the British pound to 5.6578/5.6691 from 5.6328/5.6384. It also fell against the euro, trading at 4.6959/4.7053 from 4.6776/4.6823 previously.
The ringgit was mixed against Asean currencies.
It fell against the Singapore dollar to 3.3201/3.3277 from 3.3146/3.3181 and fell against the Thai baht to 13.1199/13.1617 from 13.0670/13.0861.
On the other hand, it strengthened against the Indonesian rupiah to 277.3/278.1 from 277.7/278.1 and increased against the Philippine peso to 7.65/7.67 from 7.66/7.67.
