# Malaysian Central Bank Says Ringgit ‘Ought to’ Trade Higher

> Bank Negara Malaysia Governor Abdul Rasheed Ghaffour said the ringgit is undervalued and ought to trade higher, given the country's positive economic outlook. The statement was issued on Tuesday, February 27.

- Date: 2024-02-27 · published 2024-02-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31945-malaysian-central-bank-says-ringgit-ought-to-trade-higher
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A central bank signal that it sees the currency as undervalued can limit further depreciation, which would ease pressure on Malaysian import costs.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-02-27/malaysia-s-central-bank-says-ringgit-ought-to-be-traded-higher-lt3upnb9

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