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Bank Negara Malaysia said it will intervene in the foreign exchange market to stabilise the ringgit, calling recent losses excessive. The ringgit was trading near a seven-month low and had lost about 6% against the US dollar this year.
Central bank intervention may slow ringgit depreciation, which lowers the local-currency cost of imported feed ingredients such as soymeal and corn. The effect on feed prices is limited, however, because most grain is priced in dollars.
reuters.comJun 27, 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.
