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The ringgit closed higher against the US dollar for a third straight session at 4.0850/0900, as optimism over Covid-19 vaccines reduced demand for the greenback. Dealers also cited stable crude prices and expectations that Malaysia's Budget 2021 would pass Parliament.
A firmer ringgit lowers the cost of ringgit-priced imports for Malaysian feed and oilseed buyers, while palm oil and other Malaysian commodity prices in dollar terms are only marginally affected by this move.
thesun.myThe Sun WebdeskNov 24, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
