# MIDF Research expects ringgit to continue rising, hitting 4.00 mark by year-end | Malay Mail

> MIDF Research expects the ringgit to keep appreciating, averaging RM4.20 and ending 2023 near RM4.00 per US dollar. The forecast rests on Malaysia's upbeat domestic economy and its net commodity exporter status. The ringgit had recovered from about RM4.75 in November 2022 to RM4.24 in late January before weakening to around RM4.50 by mid-March.

- Date: 2023-03-31 · published 2023-03-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/37145-midf-research-expects-ringgit-to-continue-rising-hitting-4-00-mark-by-year-end
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger ringgit lowers the local cost of imported feed ingredients priced in dollars, but palm oil and other commodity export earnings are also affected by currency moves. The effect on feed prices is modest.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2023/03/31/midf-research-expects-ringgit-to-continue-rising-hitting-400-mark-by-year-end/62508

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