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Malaysian Prime Minister Anwar Ibrahim said he plans to gradually increase the use of the ringgit in trade to reduce exposure to the strengthening US dollar. He noted that the ringgit has fallen about 5% against the dollar this year, hitting a 25-year low in October.
Settling trade in local currencies could reduce dollar demand for Malaysian imports over time, but the policy has no near-term effect on commodity prices.
businesstoday.com.myDec 18, 2023Not 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.
