# RM opens almost unchanged versus USD

> The ringgit opened almost unchanged at 4.0400/0430 against the US dollar on Feb 23 as investors weighed COVID-19 vaccine news against a weaker greenback. Analysts said the currency was caught between narrowing yield gaps with US bonds and surging oil prices.

- Date: 2021-02-23 · published 2021-02-23T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/48913-rm-opens-almost-unchanged-versus-usd
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Oil prices and the ringgit both feed into Malaysian palm oil costs, so the tug-of-war between them is relevant to vegetable oil pricing. The day's move was negligible.

## Read by commodity

- USDMYR: neutral

## Sources

- nst.com.my: https://www.nst.com.my/business/2021/02/668129/rm-opens-almost-unchanged-versus-usd

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