# Strong US dollar hits Thai baht, Malaysian ringgit hardest among Asean currencies  - The Business Times

> The US dollar strengthened at the start of the year on stubborn inflation and strong jobs data, pushing the Thai baht down about 5% and hitting the Malaysian ringgit hard. Markets expect the Federal Reserve to keep rates high for longer.

- Date: 2024-03-24 · published 2024-03-24T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/31494-strong-us-dollar-hits-thai-baht-malaysian-ringgit-hardest-among-asean
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger dollar and higher-for-longer US rates raise the local cost of dollar-priced feed imports across Southeast Asia and can weigh on commodity prices.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | +1.1% | +1.1% |
| DXY | 2026-09-16 | [Why US$100 oil, 5% US yields affect Singdollar, ringgit differently vs other Asean currencies - The Business Times](https://feedsoft.ai/events/17725-why-us-100-oil-5-us-yields-affect-singdollar-ringgit-differently-vs-other-asean.md) | +0.6% | +2.6% |
| DXY | 2023-09-26 | [Thai baht leads Asian currencies lower, pressured by dollar - Markets - Business Recorder](https://feedsoft.ai/events/34379-thai-baht-leads-asian-currencies-lower-pressured-by-dollar-markets-business.md) | +0.8% | +1.3% |
| DXY | 2026-09-28 | [Asian currencies: Thai baht hits two-month low as oil prices surge - Markets - Business Recorder](https://feedsoft.ai/events/17732-asian-currencies-thai-baht-hits-two-month-low-as-oil-prices-surge-markets.md) | +0.9% | +1.1% |
| DXY | 2024-02-15 | [Thai baht, Malaysian ringgit sink to three-month lows against dollar - Nikkei Asia](https://feedsoft.ai/events/31954-thai-baht-malaysian-ringgit-sink-to-three-month-lows-against-dollar-nikkei-asia.md) | -0.2% | -1.0% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/asean/strong-us-dollar-hits-thai-baht-malaysian-ringgit-hardest-among-asean-currencies

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