# Exclusive: Maybank Asset CIO Speaks On Ringgit, Sing Dollar And 2024

> Maybank Asset Management's chief investment officer said the ringgit is backed by commodities whose prices have fallen, and that the widening gap between Malaysian and US interest rates has also weighed on it. He said the currency's weakness reflects broad US dollar strength against most currencies.

- Date: 2023-07-12 · published 2023-07-12T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35325-exclusive-maybank-asset-cio-speaks-on-ringgit-sing-dollar-and-2024
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit raises the local-currency cost of imported feed ingredients such as soybean meal and corn. Continued weakness would add to Malaysian feed costs.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/07/12/ringgit-may-appreciate-against-usd-should-the-u-s-federal-reserve-pivot-into-a-more-accommodative-stance/

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