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Malaysia's Ministry of Finance said in a parliamentary reply on November 14 that the ringgit's near-term depreciation was driven mainly by US dollar strength and uncertainty over China's growth. It said Bank Negara Malaysia will manage volatility in the foreign exchange market.
Official confirmation that the central bank will smooth ringgit moves reduces the chance of a sharp currency shock to Malaysian import costs. The effect on feed prices is limited.
mof.gov.mySaidiNov 14, 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.
