# Ringgit likely to stay weak against Asean peers - Omni Capital Partners

> Omni Capital Partners said the ringgit is likely to stay weak against Asean peers over the medium term due to brain drain and weak foreign direct investment. UNCTAD data showed FDI into Malaysia fell by more than two-thirds last year to US$2.5 billion.

- Date: 2021-03-07 · published 2021-03-07T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/48393-ringgit-likely-to-stay-weak-against-asean-peers-omni-capital-partners
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Persistent ringgit weakness raises the USD cost of Malaysian palm oil and other exports, a mild bullish factor for dollar-based palm oil prices over time.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-08-07 | [Ringgit to remain weaker as US dollar strengthens against most currencies \| Borneo Post Online](https://feedsoft.ai/events/63779-ringgit-to-remain-weaker-as-us-dollar-strengthens-against-most-currencies.md) | +0.0% | +2.6% |
| PALMOIL | 2018-08-06 | [Ringgit falls to 2018 low as Asia currencies weaken \| The Star](https://feedsoft.ai/events/63778-ringgit-falls-to-2018-low-as-asia-currencies-weaken-the-star.md) | +1.8% | +0.9% |
| PALMOIL | 2017-07-29 | [Ringgit likely to trade higher next week – Customs Today Newspaper](https://feedsoft.ai/events/70233-ringgit-likely-to-trade-higher-next-week-customs-today-newspaper.md) | +1.7% | +4.1% |
| PALMOIL | 2019-01-13 | [Ringgit Can Potentially Appreciate To 3.9 Against US Dollar In 2019 \| Sarawak Tribune](https://feedsoft.ai/events/61351-ringgit-can-potentially-appreciate-to-3-9-against-us-dollar-in-2019-sarawak.md) | +0.8% | +5.6% |
| PALMOIL | 2025-06-30 | [Ringgit closes higher against major currencies \| The Star](https://feedsoft.ai/events/24461-ringgit-closes-higher-against-major-currencies-the-star.md) | +2.5% | +5.5% |

## Sources

- ocpi.io: https://ocpi.io/2021/03/08/ringgit-likely-to-stay-weak-against-asean-peers/

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