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The ringgit recovered some ground on April 29, closing at 4.3520/3570 per US dollar from 4.3630/3650 the previous day. Analysts said the 50-basis-point Fed hike had been largely priced in, and Bank Negara Malaysia dismissed concerns about external debt settlement.
A stronger ringgit lowers the local cost of dollar-denominated palm oil and feed imports, a modest offset to weaker currency-driven import costs. The move is small and tied to Fed expectations rather than a new supply event.
malaymail.comApr 29, 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.
