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Bank Negara Malaysia said the ringgit's 2024 gains were driven mainly by Fed rate cuts, with the currency up 14.4% against the dollar in the third quarter. The central bank cited government-linked FX repatriation efforts that have supported onshore liquidity.
The ringgit's strength reduces the ringgit cost of dollar-priced palm oil imports and reflects shifting rate expectations that influence the US dollar's broader direction.
nst.com.myS. BIRRUNTHAOct 9, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
