# Malaysia growth will be key for ringgit this year: Trade Minister - The Business Times

> Malaysia's Trade Minister Tengku Zafrul Aziz said the country's economic growth will be the main factor in the ringgit's performance in 2023. He cited central bank forecasts of 4-5% growth after a 14.2% rebound in the September quarter, and said ringgit strength reflects market conditions.

- Date: 2023-01-19 · published 2023-01-19T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38046-malaysia-growth-will-be-key-for-ringgit-this-year-trade-minister-the-business
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Growth-driven currency strength would lower the dollar cost of Malaysian palm oil over time, but this is a policy comment without a new market shock. Its price implication for feed is minimal.

## Read by commodity

- USDMYR: neutral
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-08-03 | [Malaysia: Wider external surplus is positive for ringgit \| articles \| ING THINK](https://feedsoft.ai/events/63776-malaysia-wider-external-surplus-is-positive-for-ringgit-articles-ing-think.md) | +2.0% | +0.9% |
| PALMOIL | 2024-09-30 | [Malaysia ringgit gains most among Asian FX, Chinese stocks soar - Markets - Business Recorder](https://feedsoft.ai/events/28585-malaysia-ringgit-gains-most-among-asian-fx-chinese-stocks-soar-markets-business.md) | +9.1% | +9.7% |
| PALMOIL | 2017-12-19 | [Ringgit remains supported with higher China trade going into 2018 - The Malaysian Reserve](https://feedsoft.ai/events/67747-ringgit-remains-supported-with-higher-china-trade-going-into-2018-the-malaysian.md) | -0.6% | +3.1% |
| PALMOIL | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +2.0% | +8.9% |
| PALMOIL | 2025-12-01 | [MYR/USD: Malaysia Ringgit Nears Four-Year High as Economy Gains Strength](https://feedsoft.ai/events/22207-myr-usd-malaysia-ringgit-nears-four-year-high-as-economy-gains-strength.md) | +1.9% | -0.1% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/asean/malaysia-growth-will-be-key-ringgit-year-trade-minister

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