# Ringgit extends gains against US dollar at opening | Malay Mail

> The ringgit opened stronger against the US dollar at 4.0260/0310, up from 4.0350/0390 the previous close, as Covid-19 vaccine optimism lifted risk sentiment. Brent crude rose 0.5% to US$51.34 per barrel, supporting the currency.

- Date: 2020-12-31 · published 2020-12-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/49918-ringgit-extends-gains-against-us-dollar-at-opening-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A firmer ringgit lowers the ringgit cost of dollar-priced imports such as feed ingredients and makes Malaysian palm oil relatively more expensive in local terms. The move is mainly currency-driven, with limited direct effect on feed prices.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-09-30 | [Ringgit opens lower against US dollar \| Malay Mail](https://feedsoft.ai/events/45319-ringgit-opens-lower-against-us-dollar-malay-mail.md) | +3.8% | +7.8% |
| BRENT | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +4.3% | +14.2% |
| BRENT | 2020-04-27 | [Ringgit opens higher against US dollar](https://feedsoft.ai/events/53928-ringgit-opens-higher-against-us-dollar.md) | +19.9% | +86.8% |
| BRENT | 2022-02-28 | [Ringgit opens firmer against US dollar, supported by oil prices \| Malay Mail](https://feedsoft.ai/events/42959-ringgit-opens-firmer-against-us-dollar-supported-by-oil-prices-malay-mail.md) | +23.1% | +23.8% |
| BRENT | 2017-12-04 | [Ringgit surges to 4.06 against dollar \| Malay Mail](https://feedsoft.ai/events/67748-ringgit-surges-to-4-06-against-dollar-malay-mail.md) | -0.6% | +4.0% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2020/12/31/ringgit-extend-gains-against-us-dollar-at-opening/1936205

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