# Ringgit on Best Run in 14 Years as Malaysia’s Outlook Brightens

> The ringgit was on track for its longest winning streak in 14 years, rising 1.6% against the dollar on August 2 for a 10th straight day. The gains reflected optimism about Malaysia's economy and foreign fund inflows.

- Date: 2024-08-02 · published 2024-08-02T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/29078-ringgit-on-best-run-in-14-years-as-malaysia-s-outlook-brightens
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A sharply stronger ringgit lowers the local-currency cost of dollar-priced palm oil exports, a modest bearish factor for palm oil prices.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2025-12-01 | [MYR/USD: Malaysia Ringgit Nears Four-Year High as Economy Gains Strength](https://feedsoft.ai/events/22207-myr-usd-malaysia-ringgit-nears-four-year-high-as-economy-gains-strength.md) | +1.9% | -0.1% |
| PALMOIL | 2017-06-29 | [Report: Ringgit strongest currency in Asia \| Malaysiakini](https://feedsoft.ai/events/70757-report-ringgit-strongest-currency-in-asia-malaysiakini.md) | +3.1% | +4.2% |
| PALMOIL | 2024-07-31 | [Ringgit nears 11-month high in 9-day rally against US dollar \| Malaysiakini](https://feedsoft.ai/events/29550-ringgit-nears-11-month-high-in-9-day-rally-against-us-dollar-malaysiakini.md) | -1.9% | +1.5% |
| PALMOIL | 2024-09-26 | [BNM deputy governor: Malaysia’s reforms and US interest rate clarity keep ringgit on the up \| Malay Mail](https://feedsoft.ai/events/28588-bnm-deputy-governor-malaysia-s-reforms-and-us-interest-rate-clarity-keep.md) | +8.4% | +9.5% |
| PALMOIL | 2018-11-07 | [Grim outlook for ringgit as govt bites the bullet](https://feedsoft.ai/events/62313-grim-outlook-for-ringgit-as-govt-bites-the-bullet.md) | -4.4% | -5.5% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-08-02/ringgit-on-best-run-in-14-years-as-malaysia-s-outlook-brightens

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