# Ringgit Opens Higher Against US dollar

> The ringgit reversed earlier losses and opened higher against the dollar on April 28. The move followed US first-quarter GDP growth of 1.1%, below the 2.0% forecast, which weighed on the dollar.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/36679-ringgit-opens-higher-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger ringgit lowers the local cost of dollar-priced feed imports, though the effect is modest. The result depends mainly on US data rather than on any commodity-specific development.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-04-30 | [Ringgit opens higher against USD](https://feedsoft.ai/events/53929-ringgit-opens-higher-against-usd.md) | +0.7% | -1.4% |
| DXY | 2021-12-17 | [Ringgit opens lower against US dollar](https://feedsoft.ai/events/43870-ringgit-opens-lower-against-us-dollar.md) | -0.2% | -0.8% |
| DXY | 2021-07-30 | [Ringgit opens marginally higher against US dollar \| Malay Mail](https://feedsoft.ai/events/46328-ringgit-opens-marginally-higher-against-us-dollar-malay-mail.md) | +0.3% | +1.2% |
| DXY | 2019-11-12 | [Ringgit opens higher against US dollar on American bond yield concerns](https://feedsoft.ai/events/56339-ringgit-opens-higher-against-us-dollar-on-american-bond-yield-concerns.md) | +0.0% | -0.1% |
| DXY | 2022-12-14 | [Ringgit ends higher against US dollar on softer US CPI data](https://feedsoft.ai/events/38498-ringgit-ends-higher-against-us-dollar-on-softer-us-cpi-data.md) | +0.2% | -2.0% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/04/28/ringgit-opens-higher-against-us-dollar-3/

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