# BNM: Coordinated efforts strengthened ringgit, no plans for capital controls | Malaysiakini

> Bank Negara Malaysia said coordinated efforts by government-linked companies and corporates have strengthened the ringgit, which has been the only regional currency to gain against the dollar since February 26. The central bank also said it has no plans for capital controls.

- Date: 2024-04-08 · published 2024-04-08T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31022-bnm-coordinated-efforts-strengthened-ringgit-no-plans-for-capital-controls
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Coordinated exporter selling of dollars supports the ringgit, which lowers local costs for Malaysian palm oil exporters. The absence of capital controls keeps trade flows open.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-06-29 | [Report: Ringgit strongest currency in Asia \| Malaysiakini](https://feedsoft.ai/events/70757-report-ringgit-strongest-currency-in-asia-malaysiakini.md) | +3.1% | +4.2% |
| PALMOIL | 2025-12-01 | [MYR/USD: Malaysia Ringgit Nears Four-Year High as Economy Gains Strength](https://feedsoft.ai/events/22207-myr-usd-malaysia-ringgit-nears-four-year-high-as-economy-gains-strength.md) | +1.9% | -0.1% |
| PALMOIL | 2017-06-30 | [Continued non-resident inflow leads to Ringgit's appreciation: BNM - The Malaysian Reserve](https://feedsoft.ai/events/70758-continued-non-resident-inflow-leads-to-ringgit-s-appreciation-bnm-the-malaysian.md) | +2.7% | +4.0% |
| PALMOIL | 2026-04-20 | [Malaysian Ringgit Set to Test New High for 2026, Strategists Say - Bloomberg](https://feedsoft.ai/events/19962-malaysian-ringgit-set-to-test-new-high-for-2026-strategists-say-bloomberg.md) | +1.1% | -0.7% |
| PALMOIL | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +2.0% | +8.9% |

## Sources

- staging.malaysiakini.com: https://staging.malaysiakini.com/news/702068-bnm-coordinated-efforts-strengthened-ringgit-no-plans-for-capital-controls

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