# Ringgit rallies on last trading day of the year on China reopening

> The ringgit strengthened against the US dollar on the last trading day of 2022, closing at about 4.40 from 4.42 the previous day. Traders cited China's reopening and expectations of less aggressive Fed rate hikes after weak US jobless-benefit data. The ringgit also gained against the pound and euro but weakened against the yen.

- Date: 2022-12-30 · published 2022-12-30T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38497-ringgit-rallies-on-last-trading-day-of-the-year-on-china-reopening
- 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 firmer ringgit lowers the ringgit cost of dollar-priced feed imports such as soymeal and corn, easing domestic feed costs for Malaysian buyers. China's reopening is also seen supporting regional demand and currencies.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-01-11 | [Yuan rallies to five year highs as US-China deal on trade gathers momentum \| The National](https://feedsoft.ai/events/61313-yuan-rallies-to-five-year-highs-as-us-china-deal-on-trade-gathers-momentum-the.md) | +0.4% | +0.9% |
| DXY | 2025-09-17 | [Ringgit ends near one-year high vs US$ on Fed cut hopes \| The Star](https://feedsoft.ai/events/23162-ringgit-ends-near-one-year-high-vs-us-on-fed-cut-hopes-the-star.md) | +0.4% | +1.5% |
| DXY | 2024-08-26 | [Ringgit still strong at close of trading today, 4.34 against the US dollar, thanks to rate cut forecast \| Malay Mail](https://feedsoft.ai/events/29073-ringgit-still-strong-at-close-of-trading-today-4-34-against-the-us-dollar.md) | +0.7% | -0.0% |
| DXY | 2018-01-02 | [Dollar falls to more than 3-month low on first trading day of 2018](https://feedsoft.ai/events/67214-dollar-falls-to-more-than-3-month-low-on-first-trading-day-of-2018.md) | -0.5% | -2.7% |
| DXY | 2017-12-26 | [Macroscope \| Why 2018 could be the year of the euro \| South China Morning Post](https://feedsoft.ai/events/67682-macroscope-why-2018-could-be-the-year-of-the-euro-south-china-morning-post.md) | -1.3% | -3.6% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2022/12/30/ringgit-rallies-on-last-trading-day-of-the-year-on-china-reopening/

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