# Malaysian ringgit hits more than 3-year high on China stimulus, leads Asian FX rally

> The ringgit hit its highest in more than three years, rising as much as 0.7% to 4.12 per dollar, as China's central bank cut medium-term lending rates following broad stimulus. Asian shares and emerging market currencies also rallied.

- Date: 2024-10-01 · published 2024-10-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/28590-malaysian-ringgit-hits-more-than-3-year-high-on-china-stimulus-leads-asian-fx
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Chinese stimulus lifting regional risk sentiment supports demand expectations for commodities, though the effect on feed prices is indirect.

## Read by commodity

- USDCNY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-05-26 | [Ringgit jumps on Opec, yuan at three-month high, other Asian currencies drift \| Malay Mail](https://feedsoft.ai/events/71274-ringgit-jumps-on-opec-yuan-at-three-month-high-other-asian-currencies-drift.md) | -0.9% | -0.5% |
| USDCNY | 2017-12-26 | [China's yuan strengthens to more than 3-month high - Chinadaily.com.cn](https://feedsoft.ai/events/67711-china-s-yuan-strengthens-to-more-than-3-month-high-chinadaily-com-cn.md) | -1.3% | -3.2% |
| USDCNY | 2026-07-31 | [China’s offshore yuan hits 3-year high as Beijing signals policy support \| South China Morning Post](https://feedsoft.ai/events/18569-china-s-offshore-yuan-hits-3-year-high-as-beijing-signals-policy-support-south.md) | -0.1% | -0.5% |
| USDCNY | 2019-01-11 | [Yuan rallies to five year highs as US-China deal on trade gathers momentum \| The National](https://feedsoft.ai/events/61313-yuan-rallies-to-five-year-highs-as-us-china-deal-on-trade-gathers-momentum-the.md) | -0.2% | +0.0% |
| USDCNY | 2021-11-24 | [Asian FX resist dollar strength, Thai stocks hit over 2-year high \| Financial Post](https://feedsoft.ai/events/44313-asian-fx-resist-dollar-strength-thai-stocks-hit-over-2-year-high-financial-post.md) | -0.4% | -0.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40323891

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