# Ringgit set for biggest monthly decline since 2015 amid US election jitters | The Straits Times

> The ringgit is down more than 6% against the US dollar in October, on course for its biggest monthly loss since August 2015. Analysts attribute the drop to risk-off positioning ahead of the US election and a renewed strength in the dollar across Asian currencies.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/28132-ringgit-set-for-biggest-monthly-decline-since-2015-amid-us-election-jitters-the
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency weakness across Asia reflects a firmer dollar, which typically weighs on dollar-denominated commodity prices and can raise import costs for feed-importing Asian buyers.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-28 | [Sterling on track for biggest monthly fall since September 2023 vs dollar](https://feedsoft.ai/events/28096-sterling-on-track-for-biggest-monthly-fall-since-september-2023-vs-dollar.md) | +0.2% | +1.9% |
| DXY | 2026-06-30 | [Gold heads for biggest monthly decline since 2008 on rate hike fears \| Commodity News - Business Standard](https://feedsoft.ai/events/18711-gold-heads-for-biggest-monthly-decline-since-2008-on-rate-hike-fears-commodity.md) | -0.1% | -0.3% |
| DXY | 2026-03-27 | [Pound heads for biggest monthly loss against the safe-haven dollar since October \| Reuters](https://feedsoft.ai/events/20428-pound-heads-for-biggest-monthly-loss-against-the-safe-haven-dollar-since.md) | +0.1% | -1.4% |
| DXY | 2024-03-24 | [Strong US dollar hits Thai baht, Malaysian ringgit hardest among Asean currencies  - The Business Times](https://feedsoft.ai/events/31494-strong-us-dollar-hits-thai-baht-malaysian-ringgit-hardest-among-asean.md) | -0.1% | +1.6% |
| DXY | 2024-10-28 | [Ahead of US election, ringgit closes lower against US dollar amid cautious sentiment \| Malay Mail](https://feedsoft.ai/events/28137-ahead-of-us-election-ringgit-closes-lower-against-us-dollar-amid-cautious.md) | +0.2% | +1.9% |

## Sources

- straitstimes.com: https://www.straitstimes.com/business/companies-markets/ringgit-set-for-biggest-monthly-decline-since-2015

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