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The ringgit opened higher against the US dollar on June 28 as risk appetite improved after S&P Global Ratings revised Malaysia's sovereign outlook to stable. S&P projects Malaysia's GDP growth at 6.1% this year and 5.0% in 2023.
The Finance Minister said the outlook had been revised from negative.
A firmer ringgit reduces the local currency cost of dollar-priced imports and palm oil exports. The effect on feed prices is limited because the move reflects sovereign credit news rather than commodity supply.
destina.myHelmi AzizJun 28, 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.
