Loading…
The Singapore dollar touched a record high of 3.4102 against the ringgit on May 24, up about 6% from a year earlier. Bank Negara Malaysia blamed the ringgit's weakness on the US debt ceiling impasse and stress in US and European banks.
Analysts said the Singapore dollar has held up better because the two countries follow different interest rate policies.
A weaker ringgit against the US dollar and Singapore dollar lowers the cost of Malaysian-origin commodities such as palm oil in dollar terms, which can support palm oil prices. The effect on feed markets is indirect.
channelnewsasia.comAmir YusofMay 29, 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.
