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The Malaysian ringgit briefly slipped past 4.8 per US dollar on Tuesday, its weakest level since the 1998 Asian financial crisis. The currency has fallen over 4% so far in 2024.
Bank Negara Malaysia said the move does not reflect the improving economic outlook.
A weaker ringgit raises the cost of imported feed inputs for Malaysian buyers, while making Malaysian palm oil and other exports cheaper in dollar terms.
bloomberg.comMarcus WongFeb 20, 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.
