# Ringgit touches near two-year low, Asian stocks track Wall St strength | Malaysiakini

> The ringgit hit a near two-year low on April 20, falling as much as 0.8% to its weakest since June 2020 before paring losses. Analysts cited a strong dollar, weak global growth after IMF and World Bank downgrades, China lockdowns and a sharp drop in oil prices.

- Date: 2022-04-20 · published 2022-04-20T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42105-ringgit-touches-near-two-year-low-asian-stocks-track-wall-st-strength
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Weakness in the ringgit and oil prices reflects softer global growth expectations that could reduce palm oil and vegetable oil demand, while a stronger dollar raises the cost of dollar-priced feed imports for Malaysia.

## Read by commodity

- WTI: bearish ▼
- USDMYR: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-12-20 | [Oil plunges nearly 5 percent to 17-month low as stock market slumps](https://feedsoft.ai/events/8704-oil-plunges-nearly-5-percent-to-17-month-low-as-stock-market-slumps.md) | -6.7% | +12.5% |
| WTI | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -5.0% | -5.3% |
| WTI | 2023-03-16 | [Oil slumps nearly 5% to lowest in more than a year as banking fears mount](https://feedsoft.ai/events/37047-oil-slumps-nearly-5-to-lowest-in-more-than-a-year-as-banking-fears-mount.md) | +4.9% | +21.8% |
| WTI | 2025-04-04 | [US refiners' shares hit near two-year lows as Trump tariffs spur fuel demand fears](https://feedsoft.ai/events/12523-us-refiners-shares-hit-near-two-year-lows-as-trump-tariffs-spur-fuel-demand.md) | -10.2% | -12.0% |
| WTI | 2018-02-02 | [Oil prices fall as US stock market slumps and dollar strengthens](https://feedsoft.ai/events/66659-oil-prices-fall-as-us-stock-market-slumps-and-dollar-strengthens.md) | -7.0% | -7.1% |
| PALMOIL | 2024-12-19 | [Ringgit declines to RM4.50 against greenback over US rate cuts \| Malaysiakini](https://feedsoft.ai/events/27221-ringgit-declines-to-rm4-50-against-greenback-over-us-rate-cuts-malaysiakini.md) | -0.1% | -11.2% |
| PALMOIL | 2022-11-29 | [Ringgit retreats to open lower against US dollar \| Malay Mail](https://feedsoft.ai/events/38931-ringgit-retreats-to-open-lower-against-us-dollar-malay-mail.md) | +1.1% | -0.4% |
| PALMOIL | 2021-12-06 | [Malaysia Ringgit To Remain At Weaker Levels Through 2022 - BusinessToday](https://feedsoft.ai/events/43876-malaysia-ringgit-to-remain-at-weaker-levels-through-2022-businesstoday.md) | +3.1% | +6.3% |

## Sources

- staging.malaysiakini.com: https://staging.malaysiakini.com/news/618667-ringgit-touches-near-two-year-low-asian-stocks-track-wall-st-strength

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