The Malaysian ringgit could weaken further in the January-March quarter against the dollar, as a combination of external risks and domestic issues hover over the beleaguered currency, according to a Westpac analyst.
The currency pair traded at 4.48 on Tuesday morning. Last month, the ringgit fell to its lowest level since the 1998 Asian Financial Crisis and for full year 2016, the currency slipped 4.24 percent against the dollar.
Robert Rennie, who is global head of market strategy at Westpac, told CNBC's "Squawk Box" on Tuesday, "Expectations are for slower China through 2017, that's something that weighs on Malaysia clearly."
"Domestically, we have political issues," he added.
Rennie expects the ringgit to move up to 4.55 against the dollar by the end of first quarter of 2017.