# Bank Negara rules out pegging the ringgit | MalaysiaNow

> Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus said pegging the ringgit to the dollar would be costly and risky, and that the central bank does not target any exchange rate level. She attributed the currency's weakness mainly to strong US growth, rising US inflation and the Ukraine conflict.

- Date: 2022-05-13 · published 2022-05-13T12:00:00.000Z
- Category: policy · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/41678-bank-negara-rules-out-pegging-the-ringgit-malaysianow
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

With no peg planned and the currency under pressure from US policy, dollar-denominated feed import costs for Malaysian buyers are likely to stay elevated.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- malaysianow.com: https://www.malaysianow.com/news/2022/05/13/bank-negara-rules-out-pegging-the-ringgit

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