# MYR/USD: Malaysia Ringgit Rebound Set to Accelerate on Fed Rate Cuts, Exports - Bloomberg

> The Malaysian ringgit rose 0.6% to 4.5922 per dollar late Wednesday, gaining for an eighth straight day and erasing its losses for the year. The move follows expectations of a Federal Reserve rate cut and stronger domestic growth.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/29549-myr-usd-malaysia-ringgit-rebound-set-to-accelerate-on-fed-rate-cuts-exports
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A firmer ringgit lowers the ringgit cost of palm oil exports and can weigh on Malaysian palm oil prices in USD terms, while a weaker dollar generally supports commodity buying.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-03-06 | [MYR/USD: Worst for Malaysia Ringgit Seen Over on China Reopening - Bloomberg](https://feedsoft.ai/events/37148-myr-usd-worst-for-malaysia-ringgit-seen-over-on-china-reopening-bloomberg.md) | -5.6% | -9.0% |
| PALMOIL | 2025-05-22 | [MYR/USD: Ringgit May Gain Most in Southeast Asia on Exporter Conversion - Bloomberg](https://feedsoft.ai/events/24945-myr-usd-ringgit-may-gain-most-in-southeast-asia-on-exporter-conversion-bloomberg.md) | -0.1% | +4.6% |
| PALMOIL | 2026-04-20 | [Malaysian Ringgit Set to Test New High for 2026, Strategists Say - Bloomberg](https://feedsoft.ai/events/19962-malaysian-ringgit-set-to-test-new-high-for-2026-strategists-say-bloomberg.md) | +1.1% | -0.7% |
| PALMOIL | 2022-11-25 | [MYR/USD: Malaysia Ringgit Rises to 3-Month High After New PM Appointment - Bloomberg](https://feedsoft.ai/events/38929-myr-usd-malaysia-ringgit-rises-to-3-month-high-after-new-pm-appointment.md) | +3.4% | -0.7% |
| PALMOIL | 2025-09-01 | [MYR/USD: Malaysia’s Currency Rally Not Over Yet as Analysts Eye Rate Cuts](https://feedsoft.ai/events/23587-myr-usd-malaysia-s-currency-rally-not-over-yet-as-analysts-eye-rate-cuts.md) | +2.4% | +1.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-07-31/myr-usd-malaysia-ringgit-rebound-set-to-accelerate-on-fed-rate-cuts-exports

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