# Ringgit strengthens 2.8 pct against US Dollar as of Nov 2024 – MOF

> Malaysia's Ministry of Finance said the ringgit had strengthened 2.8% against the US dollar as of November 22, 2024. The ministry also cited gains against several regional currencies and rising FX market turnover.

- Date: 2024-12-16 · published 2024-12-16T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/27223-ringgit-strengthens-2-8-pct-against-us-dollar-as-of-nov-2024-mof
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Policy measures to support the ringgit affect the dollar cost of Malaysian palm oil, a modest influence on vegetable oil prices for feed buyers.

## Read by commodity

- USDMYR: neutral
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2025-04-05 | [CPO Reference Price Strengthens in April 2025 Period – EnviroNews](https://feedsoft.ai/events/15569-cpo-reference-price-strengthens-in-april-2025-period-environews.md) | -2.5% | -6.2% |
| PALMOIL | 2024-08-01 | [Coordinated Govt Actions Bolster ringgit As Asia's Top Performing Currency - MoF](https://feedsoft.ai/events/29555-coordinated-govt-actions-bolster-ringgit-as-asia-s-top-performing-currency-mof.md) | -2.5% | +1.5% |
| PALMOIL | 2022-05-19 | [Strengthening the EU regulation on deforestation-free products](https://feedsoft.ai/events/41417-strengthening-the-eu-regulation-on-deforestation-free-products.md) | +1.4% | -7.4% |
| PALMOIL | 2022-03-15 | [Strengthening the EU regulation on deforestation-free products - Insights - Trase](https://feedsoft.ai/events/42298-strengthening-the-eu-regulation-on-deforestation-free-products-insights-trase.md) | -1.5% | -7.5% |
| PALMOIL | 2024-08-06 | [Palm Oil Magazine - CPO Reference Price Rises to US$ 820.11/MT; Out Fee and Export Levy Set at US$ 118/Ton for August 2024 - Palm Oil Magazine](https://feedsoft.ai/events/15625-palm-oil-magazine-cpo-reference-price-rises-to-us-820-11-mt-out-fee-and-export.md) | -2.2% | +5.0% |

## Sources

- mof.gov.my: https://www.mof.gov.my/portal/en/news/press-citations/ringgit-strengthens-2-8-pct-against-us-dollar-as-of-nov-2024-mof

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.