# Ringgit opens higher at 4.1510 despite stronger US dollar | Malay Mail

> The ringgit opened higher at 4.1510 per US dollar, despite a stronger greenback. Support came from steady crude prices and S&P's affirmation of Malaysia's sovereign credit rating, while Fed chair Jerome Powell's comments that rate hikes were not imminent eased pressure.

- Date: 2021-06-23 · published 2021-06-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/46862-ringgit-opens-higher-at-4-1510-despite-stronger-us-dollar-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger ringgit lowers the local cost of dollar-denominated feed imports, but crude price support also matters for biofuel-linked demand for vegetable oils.

## Read by commodity

- WTI: neutral
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +1.7% | +3.6% |
| WTI | 2025-07-07 | [Oil prices up; strong demand outweighs surprisingly big OPEC+ output hike \| Reuters](https://feedsoft.ai/events/23929-oil-prices-up-strong-demand-outweighs-surprisingly-big-opec-output-hike-reuters.md) | +2.4% | +0.7% |
| WTI | 2022-10-17 | [Canadian dollar gains as investors weigh high inflation expectations - The Globe and Mail](https://feedsoft.ai/events/39353-canadian-dollar-gains-as-investors-weigh-high-inflation-expectations-the-globe.md) | -0.7% | +3.7% |
| WTI | 2019-12-30 | [Oil price rise muted in 2019 despite sanctions, supply cuts, attack in Saudi Arabia](https://feedsoft.ai/events/55730-oil-price-rise-muted-in-2019-despite-sanctions-supply-cuts-attack-in-saudi.md) | +2.5% | -13.6% |
| WTI | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.7% | +0.8% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2021/06/23/ringgit-opens-higher-at-4.1510-despite-stronger-us-dollar/1984285

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