# BNM: Ringgit not reflecting Malaysia’s strong macroeconomic fundamentals

> 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.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30060-bnm-ringgit-not-reflecting-malaysia-s-strong-macroeconomic-fundamentals
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Expected ringgit strength would lower the dollar cost of Malaysian palm oil, which can ease pressure on vegetable oil and feed fat prices.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2024/06/28/bnm-ringgit-not-reflecting-malaysias-strong-macroeconomic-fundamentals/

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