# Ringgit opens firmer against US dollar, supported by oil prices | Malay Mail

> The ringgit opened firmer against the US dollar on February 28, 2022, at 4.1985/2030 versus 4.2005/2040 the previous day. Brent crude traded about 4% higher at US$101.85 per barrel, and foreign funds were net buyers on Bursa Malaysia.

- Date: 2022-02-28 · published 2022-02-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42959-ringgit-opens-firmer-against-us-dollar-supported-by-oil-prices-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude prices support Malaysia's currency and export earnings, while the ringgit's relative strength against the dollar trims the cost of imported feed inputs priced in USD.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-09-30 | [Ringgit opens lower against US dollar \| Malay Mail](https://feedsoft.ai/events/45319-ringgit-opens-lower-against-us-dollar-malay-mail.md) | +3.8% | +7.8% |
| BRENT | 2021-02-04 | [Ringgit marginally higher against us dollar on improving oil prices \| Malay Mail](https://feedsoft.ai/events/48915-ringgit-marginally-higher-against-us-dollar-on-improving-oil-prices-malay-mail.md) | +4.8% | +10.0% |
| BRENT | 2020-12-31 | [Ringgit extends gains against US dollar at opening \| Malay Mail](https://feedsoft.ai/events/49918-ringgit-extends-gains-against-us-dollar-at-opening-malay-mail.md) | +5.9% | +8.2% |
| BRENT | 2022-02-18 | [Ringgit opens higher against US dollar on steady commodity prices](https://feedsoft.ai/events/42965-ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices.md) | +6.4% | +16.9% |
| BRENT | 2020-04-27 | [Ringgit opens higher against US dollar](https://feedsoft.ai/events/53928-ringgit-opens-higher-against-us-dollar.md) | +19.9% | +86.8% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/02/28/ringgit-opens-firmer-against-us-dollar-supported-by-oil-prices/2044373

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