# BNM: Ringgit has been unfortunate, unfairly assessed vs US dollar | Malay Mail

> Bank Negara Malaysia deputy governor Adnan Zaylani Mohamad Zahid said the ringgit's weakness against the dollar reflects broad US dollar strength rather than domestic problems. He noted the ringgit has strengthened against the yen, Taiwan dollar and won since early 2022, and cited safe-haven dollar demand from China growth doubts and geopolitical tensions.

- Date: 2024-05-09 · published 2024-05-09T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30543-bnm-ringgit-has-been-unfortunate-unfairly-assessed-vs-us-dollar-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The central bank's view implies the ringgit weakness is driven by the dollar cycle, so feed import costs in Malaysia depend mainly on US rate and dollar moves rather than on a local currency problem.

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2024/05/09/bnm-ringgit-has-been-unfortunate-unfairly-assessed-vs-us-dollar/133486

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