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The World Bank said on September 27 that there is no quick fix for the ringgit's weakness against the US dollar, which was above 4.6. It noted that most Malaysian trade is invoiced in dollars, so the currency's decline raises costs.
The bank said the ringgit's recovery depends on structural reforms and economic performance.
Dollar-invoiced trade means a weaker ringgit raises the local cost of imported feed ingredients and energy. The absence of a near-term fix suggests the currency pressure may persist.
theedgemalaysia.comSep 27, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
