# Ringgit rebounds as market priced in Fed rate hike | Malay Mail

> 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.

- Date: 2022-04-29 · published 2022-04-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42099-ringgit-rebounds-as-market-priced-in-fed-rate-hike-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/04/29/ringgit-rebounds-as-market-priced-in-fed-rate-hike/2056362

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