# State Street says Malaysian ringgit at risk of hitting new low

> State Street Global Advisors' Asia-Pacific fixed income head Kheng Siang Ng said the ringgit risks briefly falling to 5 per dollar if Malaysian political instability shakes investor confidence. The currency slumped to about 4.8 per dollar in October, its weakest since 1998, and authorities are expected to defend it.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32374-state-street-says-malaysian-ringgit-at-risk-of-hitting-new-low
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A weaker ringgit makes Malaysian palm oil and other exports cheaper in dollar terms, which can support palm oil prices, while raising the cost of imported feed inputs for Malaysian buyers.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2026-04-20 | [Malaysian Ringgit Set to Test New High for 2026, Strategists Say - Bloomberg](https://feedsoft.ai/events/19962-malaysian-ringgit-set-to-test-new-high-for-2026-strategists-say-bloomberg.md) | +1.1% | -0.7% |
| 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 | 2025-12-01 | [MYR/USD: Malaysia Ringgit Nears Four-Year High as Economy Gains Strength](https://feedsoft.ai/events/22207-myr-usd-malaysia-ringgit-nears-four-year-high-as-economy-gains-strength.md) | +1.9% | -0.1% |
| PALMOIL | 2017-06-29 | [Report: Ringgit strongest currency in Asia \| Malaysiakini](https://feedsoft.ai/events/70757-report-ringgit-strongest-currency-in-asia-malaysiakini.md) | +3.1% | +4.2% |
| PALMOIL | 2022-11-25 | [Malaysian ringgit extends gains on hopes of stability after PM appointment \| Financial Post](https://feedsoft.ai/events/38932-malaysian-ringgit-extends-gains-on-hopes-of-stability-after-pm-appointment.md) | +3.4% | -0.7% |

## Sources

- sg.finance.yahoo.com: https://sg.finance.yahoo.com/news/state-street-says-malaysian-ringgit-at-risk-of-hitting-new-low-032706627.html

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