# USD/MYR: Ringgit Jumps as Malaysia Steps Up Coordination to Lift Currency - Bloomberg

> The ringgit rose as much as 0.6% to 4.7185 per dollar, its strongest level since Feb. 2, after Malaysian policymakers stepped up coordination with state-linked firms to support the currency. It had been the best performer in Asia over the past week.

- Date: 2024-03-04 · published 2024-03-04T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31482-usd-myr-ringgit-jumps-as-malaysia-steps-up-coordination-to-lift-currency
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Stronger ringgit lowers the ringgit cost of dollar-priced imports and eases pressure on domestic feed input costs. Ringgit moves also feed into Malaysian palm oil pricing in local-currency terms.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-03-04/usd-myr-ringgit-jumps-as-malaysia-steps-up-coordination-to-lift-currency

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