# BNM: Ringgit weakness due to stronger dollar, prospect of smaller US rate cuts

> Bank Negara Malaysia attributed recent ringgit weakness to a stronger US dollar and expectations of smaller US interest rate cuts. The central bank's comments came as the currency traded near multi-month lows against the dollar. The report was published on 15 November 2024.

- Date: 2024-11-15 · published 2024-11-15T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/27682-bnm-ringgit-weakness-due-to-stronger-dollar-prospect-of-smaller-us-rate-cuts
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit with a firm dollar raises Malaysia's import costs for feed and grain, while the narrowing rate gap with the US limits further currency pressure.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- nst.com.my: https://www.nst.com.my/business/economy/2024/11/1134756/bnm-ringgit-weakness-due-stronger-dollar-prospect-smaller-us-rate

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