# Ringgit gains momentum to end higher versus US dollar | Malay Mail

> The ringgit recovered some of its losses on May 27, strengthening 175 basis points to 4.3775/3800 against the dollar. Analysts noted the dollar index had lost steam after a long overbought spell and that higher oil prices helped support the currency.

- Date: 2022-05-27 · published 2022-05-27T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/41673-ringgit-gains-momentum-to-end-higher-versus-us-dollar-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A firmer ringgit lowers the local-currency cost of dollar-priced imports such as feed ingredients, though the effect is modest in a short-term rebound.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/05/27/ringgit-gains-momentum-to-end-higher-versus-us-dollar/9234

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