# Government urged to help rakyat, businesses affected by weakening ringgit

> Economists urged the Malaysian government to support households and businesses hit by the declining ringgit, as higher import costs reduce consumer purchasing power. The ringgit depreciation was attributed mainly to dollar strength driven by aggressive Fed tightening, which has caused capital outflows from emerging markets.

- Date: 2022-10-05 · published 2022-10-05T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39387-government-urged-to-help-rakyat-businesses-affected-by-weakening-ringgit
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit raises the cost of imported goods, including feed ingredients, for Malaysian buyers. The call for policy support does not change commodity supply or demand.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/news/nation/2022/10/837420/government-urged-help-rakyat-businesses-affected-weakening-ringgit

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