# MYR USD: Malaysian Ringgit Near 26-Year Low Spurs Central Bank to Pledge Support - Bloomberg

> 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.

- Date: 2024-04-15 · published 2024-04-15T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31015-myr-usd-malaysian-ringgit-near-26-year-low-spurs-central-bank-to-pledge-support
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-04-15/ringgit-s-drop-toward-26-year-low-spurs-bnm-to-pledge-support

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