# Ringgit closes higher as demand for US dollar weakens

> The ringgit closed at 4.3990/4030 per dollar, stronger than the previous close of 4.4190/4240, as demand for the greenback weakened amid the US banking crisis. The currency also firmed against the British pound and the yen. Analysts said a dovish Federal Reserve stance would be needed for further gains.

- Date: 2023-03-28 · published 2023-03-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/37147-ringgit-closes-higher-as-demand-for-us-dollar-weakens
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The move reflects broad dollar weakness linked to banking stress rather than any change in Malaysian supply or demand for feed commodities.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2023/03/28/ringgit-closes-higher-as-demand-for-us-dollar-weakens/

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