# Ringgit decline due to US crises, beyond govt control: Rafizi | Business | The Vibes

> Economy Minister Rafizi Ramli said the ringgit's slide since February, from about 4.20 to about 4.60 per dollar, comes from US crises including Silicon Valley Bank's collapse and the debt ceiling impasse. He said the government cannot control these external factors. The ringgit opened weaker on May 31.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/36217-ringgit-decline-due-to-us-crises-beyond-govt-control-rafizi-business-the-vibes
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The minister's comments confirm that the ringgit weakness is externally driven and unlikely to be reversed by domestic policy. This keeps import costs elevated for Malaysian buyers.

## Sources

- thevibes.com: https://www.thevibes.com/articles/business/93816/ringgit-decline-due-to-us-crises-beyond-govt-control-rafizi

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