# Malaysian ringgit extends gains on hopes of stability after PM appointment | Financial Post

> The ringgit extended gains to a three-month high against the dollar on November 25, rising 0.6% after Anwar Ibrahim's appointment as prime minister. Markets focused next on cabinet appointments, the finance minister choice and the budget retabling.

- Date: 2022-11-25 · published 2022-11-25T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38932-malaysian-ringgit-extends-gains-on-hopes-of-stability-after-pm-appointment
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Political stability supports regional currency strength, which lowers the local-currency cost of Malaysian palm oil and eases import costs, though further political risk could slow gains.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-09-23 | [Malaysia stocks, ringgit slide as Anwar signals push to oust PM \| Financial Post](https://feedsoft.ai/events/51356-malaysia-stocks-ringgit-slide-as-anwar-signals-push-to-oust-pm-financial-post.md) | -1.7% | -1.6% |
| PALMOIL | 2022-11-25 | [MYR/USD: Malaysia Ringgit Rises to 3-Month High After New PM Appointment - Bloomberg](https://feedsoft.ai/events/38929-myr-usd-malaysia-ringgit-rises-to-3-month-high-after-new-pm-appointment.md) | +3.4% | -0.7% |
| PALMOIL | 2022-11-30 | [Ringgit ends higher against US dollar on positive China sentiment \| Malay Mail](https://feedsoft.ai/events/38930-ringgit-ends-higher-against-us-dollar-on-positive-china-sentiment-malay-mail.md) | +3.7% | -0.4% |
| PALMOIL | 2023-02-22 | [The Ringgit Supported By Global Sentiment, Domestic Political Stability, U.S. Dollar Moderation, Says Deputy Finance Minister](https://feedsoft.ai/events/37605-the-ringgit-supported-by-global-sentiment-domestic-political-stability-u-s.md) | +0.2% | -3.6% |
| 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% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/malaysian-ringgit-extends-gains-on-hopes-of-stability-after-pm-appointment

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