# Ringgit regains strength against US dollar after O... | OPR | NDA News MY

> Bank Negara Malaysia raised its overnight policy rate by 25 basis points to 2% on May 11 to contain inflation. The ringgit rallied intraday on the move, after having hit a two-year low of 4.3850 against the dollar earlier that week.

- Date: 2022-05-12 · published 2022-05-12T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/41677-ringgit-regains-strength-against-us-dollar-after-o-opr-nda-news-my
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Higher Malaysian rates can support the ringgit and reduce import costs in local terms, though the move was small and the currency's direction depends largely on the Fed.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- my.nda.news: https://my.nda.news/opr-st_106944/news/ringgit-regains-strength-against-us-dollar-after-opr-hike-sn_3503496/

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