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The ringgit is about 2% away from its 1998 record low of 4.8850 per dollar and has fallen nearly 4% this year. Weak Malaysian exports and dollar strength could push it past that level.
Continued ringgit weakness would raise the cost of imported feed ingredients for Malaysian buyers and could make palm oil cheaper for buyers paying in dollars.
bloomberg.comKarl Lester YapFeb 19, 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.
