# Malaysian ringgit charts strong performance against US dollar; signals inflow of funds from investors, say analysts - CNA

> Malaysia's Finance Ministry said the ringgit was the best-performing regional currency against the US dollar as of mid-May, gaining about 2% from late February to May 17. Analysts attributed the gain to government and central bank measures that drew back investor funds, while cautioning that recovery depends on when the Federal Reserve cuts rates.

- Date: 2024-05-28 · published 2024-05-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30536-malaysian-ringgit-charts-strong-performance-against-us-dollar-signals-inflow-of
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A firmer ringgit lowers the local-currency cost of imported feed inputs for Malaysian buyers, but the gain is fragile while US rate expectations stay high and the dollar remains firm.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- channelnewsasia.com: https://www.channelnewsasia.com/asia/malaysia-ringgit-rise-us-dollar-fed-currency-4368216

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