# Malaysia central bank to intervene in foreign-exchange markets as ringgit losses 'excessive'

> 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.

- Date: 2023-06-27 · published 2023-06-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/35769-malaysia-central-bank-to-intervene-in-foreign-exchange-markets-as-ringgit
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/malaysia-central-bank-intervene-fx-markets-ringgit-losses-excessive-2023-06-27/

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