# World Bank: No quick, easy fix for ringgit weakness, focus on fundamentals

> 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.

- Date: 2022-09-27 · published 2022-09-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39864-world-bank-no-quick-easy-fix-for-ringgit-weakness-focus-on-fundamentals
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/node/637924

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