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Economists warned that the ringgit's continued slide raises the cost of imported goods and reduces Malaysian purchasing power. They also flagged that the strong dollar cuts the value of Bank Negara's foreign-currency reserves and raises the cost of dollar-denominated debt.
Reserves were estimated at 5.4 months of imports as of August 30.
Higher import costs from a weaker ringgit pass through to feed and food prices for Malaysian buyers. Possible reserve drawdowns for currency intervention could limit future support for the ringgit.
nst.com.myFarah Adilla, Asila JalilSep 20, 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.
