# BERNAMA - The Recent Currency Depreciation Not Limited To Ringgit Alone - Bnm

> 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.

- Date: 2023-05-26 · published 2023-05-26T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/36213-bernama-the-recent-currency-depreciation-not-limited-to-ringgit-alone-bnm
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Sources

- bernama.com: https://www.bernama.com/en/news.php?id=2192756

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