The ringgit opened higher against the US dollar which weakened as President Donald Trump in his inauguration speech avoided announcing his new aggressive tariffs.
At 9.50am, the ringgit was at 4.4600, up 0.67% against the USD from its closing of 4.4910 at the end of Monday.
Bank Muamalat Malaysia Bhd Chief Economist Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) fell 1.16% to 108.082 points following the US President's inauguration speech last night.
According to the Wall Street Journal, President Donald Trump plans to issue a broad memorandum directing federal agencies to review trade policies and existing relations with China, Canada and Mexico.
At the opening, the ringgit depreciated against major currencies.
It fell against the euro to 4.6530/6702 from Monday's close of 4.6307/6358, weakened against the British pound to 5.5058/5261 from 5.4723/4784 and edged lower against the Japanese yen to 2.8764/8874 from 2.8741/8774.
Against its Asean peers, the ringgit mostly opened higher.
It rose against the Thai baht to 13.0850/1445 from 13.0948/1155, strengthened against the Indonesian rupiah at 272.7/273.9 from 274.3/274.8 and rose against the Philippine peso to 7.63/7.66 from 7.67/7.66.
However, the local unit fell against the Singapore dollar trading at 3.2947/3074 compared to 3.2899/2938 on Monday.
