# Ringgit continues upward momentum against US dollar

> The ringgit extended its gains against the US dollar, opening at 4.2015/2050 per dollar. The move followed a downward revision to US fourth-quarter 2021 GDP growth, which weighed on the dollar index (DXY), which fell 0.62% to 97.79.

- Date: 2022-03-31 · published 2022-03-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42530-ringgit-continues-upward-momentum-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer ringgit lowers the local-currency cost of dollar-priced feed imports for Malaysia, which is modestly supportive for buyers and marginally bearish for USD/MYR.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-02-11 | [Feb 11: Ringgit continues upward momentum against USD](https://feedsoft.ai/events/60864-feb-11-ringgit-continues-upward-momentum-against-usd.md) | +0.4% | +0.4% |
| DXY | 2021-12-17 | [Ringgit opens lower against US dollar](https://feedsoft.ai/events/43870-ringgit-opens-lower-against-us-dollar.md) | -0.2% | -0.8% |
| DXY | 2023-04-14 | [Ringgit continues to strengthen vs US dollar](https://feedsoft.ai/events/36680-ringgit-continues-to-strengthen-vs-us-dollar.md) | +0.6% | +0.5% |
| DXY | 2023-04-28 | [Ringgit Opens Higher Against US dollar](https://feedsoft.ai/events/36679-ringgit-opens-higher-against-us-dollar.md) | -0.3% | +1.2% |
| DXY | 2020-11-09 | [Ringgit surges against US dollar at close \| Malay Mail](https://feedsoft.ai/events/50409-ringgit-surges-against-us-dollar-at-close-malay-mail.md) | -0.1% | -1.7% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2022/03/31/ringgit-continues-upward-momentum-against-us-dollar/

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