# Decline of the ringgit: Amid strain on people, businesses, is there hope for a rebound? - CNA

> A feature on the ringgit's decline to a 26-year low describes rising food prices in Malaysia, which imports about 60% of its food. Households and businesses are cutting back as imported inflation spreads, while analysts remain divided on whether the currency can recover.

- Date: 2024-05-18 · published 2024-05-18T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30540-decline-of-the-ringgit-amid-strain-on-people-businesses-is-there-hope-for-a
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Malaysia's heavy reliance on imported food and inputs means a weak ringgit raises local feed and food costs, which can weigh on domestic demand for animal feed and protein.

## Sources

- channelnewsasia.com: https://www.channelnewsasia.com/cna-insider/insider/ringgit-decline-rise-malaysia-currency-low-brain-drain-government-4343531

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