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Bank Negara Malaysia said the ringgit's recent depreciation reflects a global flight to the US dollar caused by the US debt ceiling impasse and banking stress in the US and Europe. It said the ringgit is not the only Asian currency under pressure.
The central bank stressed that it is managing external shocks.
Stronger US dollar demand and emerging-market outflows raise the cost of dollar-priced imports for Malaysia and other Asian buyers. This is a background macro factor for currency-driven commodity demand.
bernama.comMay 26, 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.
