# Anwar Pushes For Ringgit Transactions In Trade

> 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.

- Date: 2023-12-18 · published 2023-12-18T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32990-anwar-pushes-for-ringgit-transactions-in-trade
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/12/18/anwar-pushes-for-ringgit-transactions-in-trade/

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