# Ringgit opens higher on buying interest | Malay Mail

> The ringgit opened higher against the US dollar on 29 October as buyers returned ahead of the Budget 2022 tabling that day. The currency was trading at 4.1445/1480 per dollar, and analysts noted that higher commodity prices and positive economic data had supported the tone.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/44831-ringgit-opens-higher-on-buying-interest-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A firmer ringgit against the dollar makes Malaysian palm oil slightly cheaper for dollar-based buyers, a modest bearish factor for palm oil prices in dollar terms. The move is small and mostly reflects pre-budget positioning.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2021/10/29/ringgit-opens-higher-on-buying-interest4/2016851

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