# Malaysia says ringgit moves to stay market determined | The Straits Times

> Bank Negara Malaysia said the ringgit will remain market determined and it will ensure orderly financial conditions. The central bank ruled out capital controls and re-pegging, and the ringgit traded at 4.5732 per dollar on September 23 at a 24-year low. Malaysia has raised its benchmark rate three times this year to 2.5%.

- Date: 2022-09-23 · published 2022-09-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39865-malaysia-says-ringgit-moves-to-stay-market-determined-the-straits-times
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The central bank's refusal to defend the currency with controls or a peg means import costs for Malaysian buyers will keep tracking the dollar. Higher domestic rates also raise financing costs for feed businesses.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- straitstimes.com: https://www.straitstimes.com/business/economy/malaysia-says-ringgit-moves-to-stay-market-determined

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