# Ringgit opens higher against US dollar on steady commodity prices

> The ringgit opened higher against the US dollar on February 18, 2022, at 4.1840/1865 from 4.1865/1880, supported by steady commodity prices. Brent stayed above US$92 per barrel and Malaysia's CPO benchmark rose to RM5,507 per tonne.

- Date: 2022-02-18 · published 2022-02-18T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42965-ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Elevated crude and palm oil prices support Malaysia's export earnings and the ringgit, while expected Fed tightening keeps dollar demand firm.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 softer against major currencies on oil volatility, US Fed stance \| Malay Mail](https://feedsoft.ai/events/19960-ringgit-closes-softer-against-major-currencies-on-oil-volatility-us-fed-stance.md) | +0.5% | -1.1% |
| 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% |
| PALMOIL | 2026-03-06 | [Palm oil prices rise 4% as higher energy costs lift biofuel spread margins \| S&P Global](https://feedsoft.ai/events/20269-palm-oil-prices-rise-4-as-higher-energy-costs-lift-biofuel-spread-margins-s-and.md) | +6.0% | +11.5% |
| PALMOIL | 2022-03-01 | [Rupiah, ringgit rise on energy prices, stocks extend rally \| Reuters](https://feedsoft.ai/events/42532-rupiah-ringgit-rise-on-energy-prices-stocks-extend-rally-reuters.md) | +13.1% | +9.4% |
| 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% |
| BRENT | 2020-04-30 | [Ringgit opens higher against USD](https://feedsoft.ai/events/53929-ringgit-opens-higher-against-usd.md) | +33.7% | +72.6% |
| 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% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2022/02/18/ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices/

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