On Monday in Asia, the dollar traded at 4.4770 ringgit, up from its previous close of 4.4755 amid outflows as a broad bullish trend extends in the greenback, according to Reuters data.
The ringgit has had a torrid time since Donald Trump's win in the U.S. presidential election on Nov. 8, joining other emerging market assets that have tumbled in the wake of Trump's win, as the dollar surged and U.S. Treasury yields jumped.
The dollar's strength has impacted emerging-market companies' ability to service dollar-denominated debt and spurred outflows from the segment on the prospect of higher, less-risky returns on Treasurys.
Chang Wei Liang, FX strategist at Mizuho Bank said last week's interest rate hike by the U.S. Federal Reserve contributed to further weakness. The Fed, which raised interest rates last week, has penciled in three rate increases in 2017.
Malaysia's central bank, Bank Negara Malaysia, has also been moving to clamp down on non-deliverable forward trades to curb speculative activity on the offshore market, causing some concerns in the currency trade and prompting outflows.