# The Malaysian Ringgit and Thai Baht face persistent depreciatory pressures

> The Malaysian ringgit has fallen about 4.5% year-to-date against the dollar, trading above 4.80, while the Thai baht is down about 5.5% and above 36 per dollar. Thai Prime Minister Srettha has pressed the central bank for an emergency rate cut after weak Q4 GDP. Bank Negara Malaysia has attributed the ringgit's weakness mainly to the strong dollar and China uncertainty.

- Date: 2024-02-21 · published 2024-02-21T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/31955-the-malaysian-ringgit-and-thai-baht-face-persistent-depreciatory-pressures
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Persistent weakness in the ringgit and baht can lift the dollar cost of palm oil and other regional feed inputs bought by Asian buyers, while the depreciation supports regional export competitiveness.

## Read by commodity

- USDMYR: bullish ▲
- USDTHB: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-06-30 | [Continued non-resident inflow leads to Ringgit's appreciation: BNM - The Malaysian Reserve](https://feedsoft.ai/events/70758-continued-non-resident-inflow-leads-to-ringgit-s-appreciation-bnm-the-malaysian.md) | +2.7% | +4.0% |
| PALMOIL | 2024-09-26 | [BNM deputy governor: Malaysia’s reforms and US interest rate clarity keep ringgit on the up \| Malay Mail](https://feedsoft.ai/events/28588-bnm-deputy-governor-malaysia-s-reforms-and-us-interest-rate-clarity-keep.md) | +8.4% | +9.5% |
| PALMOIL | 2024-11-01 | [Malaysian Ringgit Set for Biggest Monthly Decline Since 2015](https://feedsoft.ai/events/28131-malaysian-ringgit-set-for-biggest-monthly-decline-since-2015.md) | +9.9% | +9.2% |
| PALMOIL | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +2.0% | +8.9% |
| PALMOIL | 2017-12-30 | [2017 recovery year for ringgit, BNM measures place in check \| Malay Mail](https://feedsoft.ai/events/67746-2017-recovery-year-for-ringgit-bnm-measures-place-in-check-malay-mail.md) | +6.7% | +4.3% |

## Sources

- fxstreet.com: https://www.fxstreet.com/analysis/the-malaysian-ringgit-and-thai-baht-face-persistent-depreciatory-pressures-202402210238

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