# Ringgit falls 205 bps vs US dollar after Fed hints higher interest rates in 2023

> The ringgit fell 205 basis points against the US dollar after the Fed signalled that interest rates could rise in 2023, earlier than previously expected. The move reflected a stronger dollar and capital outflow pressure on emerging-market currencies.

- Date: 2021-06-17 · published 2021-06-17T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/46864-ringgit-falls-205-bps-vs-us-dollar-after-fed-hints-higher-interest-rates-in-2023
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit raises the local-currency cost of dollar-priced feed imports, including soybean meal, corn and other ingredients Malaysian feed buyers source internationally.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2021/06/17/ringgit-falls-205-bps-vs-us-dollar-after-fed-hints-higher-interest-rates-in/1982824

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