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Malaysia's central bank reaffirmed it is ready to support the ringgit, which is trading near its lowest level since 1998. Bank Negara Malaysia said it will ensure orderly functioning of the foreign exchange market.
A weak ringgit raises the ringgit cost of dollar-priced imports, while Malaysia's palm oil exporters gain some offset. Intervention could cap the move but leaves the currency trend unchanged.
bloomberg.comMarcus WongApr 15, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
