# Ringgit could be more well-positioned in the medium term

> OCBC and Bank Islam analysts said higher commodity and crude oil prices should benefit the ringgit more than other Asian currencies during the Russia-Ukraine conflict. They expect USD/MYR gains to be capped at 4.2200 while broader Asian currency weakness persists.

- Date: 2022-02-28 · published 2022-02-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42960-ringgit-could-be-more-well-positioned-in-the-medium-term
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The analysis reflects expectations that commodity-driven currency strength could persist, which affects Malaysian palm oil and feed-related import costs in ringgit terms.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-07-01 | [Ringgit could hit 4.00 by year-end](https://feedsoft.ai/events/52378-ringgit-could-hit-4-00-by-year-end.md) | +0.6% | +7.0% |
| PALMOIL | 2021-05-27 | [Supercharged commodities may rescue ringgit hit by Covid surge » The Capital Post](https://feedsoft.ai/events/47364-supercharged-commodities-may-rescue-ringgit-hit-by-covid-surge-the-capital-post.md) | -1.6% | -13.2% |
| PALMOIL | 2018-02-28 | [Palm oil rises to seven-week top on weaker ringgit \| The Star](https://feedsoft.ai/events/10366-palm-oil-rises-to-seven-week-top-on-weaker-ringgit-the-star.md) | -0.9% | -2.6% |
| PALMOIL | 2021-09-19 | [Ringgit expected to stabilise against the dollar this week](https://feedsoft.ai/events/45320-ringgit-expected-to-stabilise-against-the-dollar-this-week.md) | +1.0% | +12.6% |
| PALMOIL | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | +0.5% | -1.1% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2022/02/28/ringgit-could-be-more-well-positioned-in-the-medium-term/

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