# Ringgit continues to trade higher against greenback | Malay Mail

> The ringgit closed higher against the US dollar on July 27 at about 4.52, helped by rising oil prices and the Federal Reserve's 25 basis point rate hike. Analysts said a dovish Fed could push USD/MYR toward support near 4.49, while state elections pose short-term risk.

- Date: 2023-07-27 · published 2023-07-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35322-ringgit-continues-to-trade-higher-against-greenback-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Currency moves that favour the ringgit reduce the local cost of imported feed inputs, while Brent gains add to energy and freight costs. The net effect on feed prices is modest.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-12-04 | [Ringgit surges to 4.06 against dollar \| Malay Mail](https://feedsoft.ai/events/67748-ringgit-surges-to-4-06-against-dollar-malay-mail.md) | -0.6% | +4.0% |
| BRENT | 2016-11-30 | [C$ edges higher against firmer greenback as oil surges](https://feedsoft.ai/events/74053-c-edges-higher-against-firmer-greenback-as-oil-surges.md) | +16.7% | +22.1% |
| BRENT | 2021-02-04 | [Ringgit marginally higher against us dollar on improving oil prices \| Malay Mail](https://feedsoft.ai/events/48915-ringgit-marginally-higher-against-us-dollar-on-improving-oil-prices-malay-mail.md) | +4.8% | +10.0% |
| BRENT | 2020-04-30 | [Ringgit opens higher against USD](https://feedsoft.ai/events/53929-ringgit-opens-higher-against-usd.md) | +33.7% | +72.6% |
| BRENT | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +4.3% | +14.2% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2023/07/27/ringgit-continues-to-trade-higher-against-greenback/82099

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