# Flexible ringgit exchange rate has a role in reducing impact of external shocks – MOF

> 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.

- Date: 2023-11-14 · published 2023-11-14T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/33434-flexible-ringgit-exchange-rate-has-a-role-in-reducing-impact-of-external-shocks
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: neutral

## Sources

- mof.gov.my: https://www.mof.gov.my/portal/en/news/press-citations/flexible-ringgit-exchange-rate-has-a-role-in-reducing-impact-of-external-shocks-mof

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