# Ringgit Strengthens On Rate Hold Expectations

> The ringgit strengthened at the open on June 26, trading at 4.7065/4.7095 per dollar. Traders expected Bank Negara Malaysia to hold its overnight policy rate at 3.00% after higher May inflation, in line with a broader trend of central banks easing.

- Date: 2024-06-26 · published 2024-06-26T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30066-ringgit-strengthens-on-rate-hold-expectations
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger ringgit lowers the dollar cost of Malaysian palm oil exports, a modest bearish factor for palm oil and related feed fats.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2024/06/26/ringgit-strengthens-on-rate-hold-expectations/

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