# Malaysia expects ringgit to rise this year, rules out currency peg | The Straits Times

> Malaysia's finance ministry said it expects the ringgit to appreciate in 2024 and ruled out a currency peg or monetary policy changes to support it. The ringgit has fallen about 3.7% so far this year. The ministry attributed the weakness mainly to US dollar strength and economic uncertainty in China.

- Date: 2024-02-29 · published 2024-02-29T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31947-malaysia-expects-ringgit-to-rise-this-year-rules-out-currency-peg-the-straits
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The government's rejection of a peg or rate action means the currency is likely to be driven by external factors, so import costs will continue to track the dollar and China's economy.

## Read by commodity

- USDMYR: neutral

## Sources

- straitstimes.com: https://www.straitstimes.com/business/malaysia-pushback-over-weak-ringgit-has-markets-eyeing-threshold

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