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Bank Negara Malaysia's Financial Markets Committee said the ringgit does not reflect Malaysia's strong fundamentals and has room to appreciate once US rates are cut. It cited a median Bloomberg forecast of 4.65 per dollar for end-2024, while noting geopolitical and subsidy risks.
Expected ringgit strength would lower the dollar cost of Malaysian palm oil, which can ease pressure on vegetable oil and feed fat prices.
themalaysianreserve.comZukriJun 28, 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.
