# MIDF Research forecasts ringgit to strengthen in 2024 amid anticipated Federal Reserve rate cuts

> MIDF Research forecasts the ringgit will average RM4.38 per dollar in 2024, stronger than its 2023 average forecast of RM4.55, and will reach RM4.20 by the end of 2024. The forecast assumes Fed rate cuts will weaken the dollar broadly and pull fund flows back into emerging markets.

- Date: 2023-12-07 · published 2023-12-07T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32993-midf-research-forecasts-ringgit-to-strengthen-in-2024-amid-anticipated-federal
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

An expected weaker dollar would support dollar-priced commodities and make imports cheaper for Malaysian buyers, but this is an analyst forecast rather than a confirmed policy change.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-13 | [Yen rallies after Federal Reserve signals rate cuts in 2024 - Nikkei Asia](https://feedsoft.ai/events/8716-yen-rallies-after-federal-reserve-signals-rate-cuts-in-2024-nikkei-asia.md) | -1.0% | -0.7% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |
| DXY | 2020-04-30 | [Pound-Dollar Rate Aims for the Stars after Federal Reserve Swerves Onto Main Street](https://feedsoft.ai/events/53873-pound-dollar-rate-aims-for-the-stars-after-federal-reserve-swerves-onto-main.md) | +0.7% | -1.4% |
| DXY | 2024-09-20 | [Fed rate cuts to help ease forex pressure, stimulate FDI, FII: researchers](https://feedsoft.ai/events/28633-fed-rate-cuts-to-help-ease-forex-pressure-stimulate-fdi-fii-researchers.md) | -0.2% | +2.2% |
| DXY | 2025-12-01 | [Yen to Strengthen 10% in Coming Months on US Rate Cuts, Morgan Stanley Says](https://feedsoft.ai/events/22190-yen-to-strengthen-10-in-coming-months-on-us-rate-cuts-morgan-stanley-says.md) | -0.3% | -1.2% |

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/node/693115

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