# Ringgit stunned by lockdown, record-high Covid-19 cases

> Bank Islam economist Adam Mohamed Rahim said the ringgit could weaken to 4.15 against the dollar this week, and possibly 4.17 if nervousness over the lockdown and high daily Covid cases persists. The ringgit dropped 0.1% to 4.129 on the previous day, while the 10-year bond yield held at 3.2%.

- Date: 2021-05-31 · published 2021-05-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/47365-ringgit-stunned-by-lockdown-record-high-covid-19-cases
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency weakness in Malaysia is a minor driver for feed markets, since it mainly affects the local cost of imported feed ingredients and palm oil export competitiveness.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2021/06/01/ringgit-stunned-by-lockdown-record-high-covid-19-cases/

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