# Ringgit appreciates against US dollar on improved market sentiment | Malay Mail

> The ringgit closed higher against the US dollar at 4.3960/3975 on June 28, rebounding from the previous day's losses. The move followed S&P Global Ratings' revision of Malaysia's sovereign outlook to stable from negative and affirmation of its A- rating. Brent crude was trading near US$117.30 per barrel.

- Date: 2022-06-28 · published 2022-06-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/41230-ringgit-appreciates-against-us-dollar-on-improved-market-sentiment-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A firmer ringgit lowers the ringgit cost of Malaysian palm oil and makes imports priced in dollars marginally cheaper for Malaysian buyers. The effect on feed prices is small, since the move is driven mainly by sovereign rating news.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-11-30 | [Ringgit ends higher against US dollar on positive China sentiment \| Malay Mail](https://feedsoft.ai/events/38930-ringgit-ends-higher-against-us-dollar-on-positive-china-sentiment-malay-mail.md) | +3.7% | -0.4% |
| PALMOIL | 2021-01-14 | [StanChart sees ringgit rising to 3.90 against US dollar by end-2021 \| Malay Mail](https://feedsoft.ai/events/49426-stanchart-sees-ringgit-rising-to-3-90-against-us-dollar-by-end-2021-malay-mail.md) | -4.2% | -7.6% |
| PALMOIL | 2019-01-13 | [Ringgit Can Potentially Appreciate To 3.9 Against US Dollar In 2019 \| Sarawak Tribune](https://feedsoft.ai/events/61351-ringgit-can-potentially-appreciate-to-3-9-against-us-dollar-in-2019-sarawak.md) | +0.8% | +5.6% |
| PALMOIL | 2024-08-31 | [Ringgit set to gain further against US dollar with support from economic data and Fed moves \| Malay Mail](https://feedsoft.ai/events/29071-ringgit-set-to-gain-further-against-us-dollar-with-support-from-economic-data.md) | +3.9% | +7.1% |
| PALMOIL | 2021-03-30 | [Ringgit opens easier against US Dollar](https://feedsoft.ai/events/48387-ringgit-opens-easier-against-us-dollar.md) | -4.0% | -0.7% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/06/28/ringgit-appreciates-against-us-dollar-on-improved-market-sentiment/14723

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