Kuala Lumpur:The ringgit closed higher against most ASEAN currencies but weakened against the US dollar on Monday, amid renewed concerns over France's public finances following a sharp sell-off in its bond market last week.

According to BERNAMA News Agency, the ringgit eased to 4.0845/0890 against the US dollar from Friday's close of 4.0820/0870. Bank Muamalat Malaysia Bhd Chief Economist Dr. Mohd Afzanizam Abdul Rashid noted that the US Dollar Index (DXY) gained momentum due to risk-off sentiment stemming from concerns over public finances and political instability in European economies.

The euro fell to a 17-month low on Monday following the announcement of a snap election in Spain, which kept the ringgit in a tight range against the US dollar. The ringgit showed a mixed performance against a basket of major currencies, rising against the euro to 4.5775/5825 from 4.5927/5983 at Friday's close and gaining against the Japanese yen to 2.5858/5886 from 2.5906/5941. However, it depreciated against the British pound to 5.4022/4081 from 5.3927/3993.

The ringgit traded mostly higher against ASEAN currencies, edging up against the Singapore dollar to 3.1905/1943 from 3.1908/1952 at Friday's close and strengthening against the Thai baht to 12.1234/1411 from 12.1579/1778. It was also marginally higher against the Indonesian rupiah at 227.9/228.3 compared to 228.2/228.6, while remaining unchanged against the Philippine peso at 6.52/6.53 versus 6.52/6.54 previously.