# Ringgit continues downtrend against US dollar at close | Malaysiakini

> The ringgit extended its decline against the US dollar, closing at 4.4850/4895 compared with 4.4755/4805 on Monday. Investors moved into safe-haven assets amid concerns about the global interest rate outlook.

- Date: 2023-02-28 · published 2023-02-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/37600-ringgit-continues-downtrend-against-us-dollar-at-close-malaysiakini
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit reflects dollar strength driven by Fed policy expectations. This can lower the ringgit cost of Malaysian palm oil exports and affect palm oil price competitiveness.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- staging.malaysiakini.com: https://staging.malaysiakini.com/news/656829-ringgit-continues-downtrend-against-us-dollar-at-close

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