# Bank Negara’s OPR decision, Budget 2021, US elections to influence ringgit movement next week | Malay Mail

> Bank Negara Malaysia's policy rate decision on November 3 and the Budget 2021 tabling on November 6 are expected to drive the ringgit next week. The OPR stands at 1.75 percent after 100 basis points of cuts this year.

- Date: 2020-10-31 · published 2020-10-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/50887-bank-negara-s-opr-decision-budget-2021-us-elections-to-influence-ringgit
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Domestic rate and budget events set the ringgit's direction, which affects the cost of Malaysian palm oil for export buyers.

## Read by commodity

- USDMYR: neutral
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-01-14 | [StanChart sees ringgit rising to 3.90 against US dollar by end-2021 \| Malay Mail](https://feedsoft.ai/events/49426-stanchart-sees-ringgit-rising-to-3-90-against-us-dollar-by-end-2021-malay-mail.md) | -4.2% | -7.6% |
| PALMOIL | 2025-06-30 | [Ringgit firms up as weaker US dollar, Senate budget plans weigh on greenback \| Malay Mail](https://feedsoft.ai/events/24459-ringgit-firms-up-as-weaker-us-dollar-senate-budget-plans-weigh-on-greenback.md) | +2.5% | +5.5% |
| PALMOIL | 2022-06-28 | [Ringgit appreciates against US dollar on improved market sentiment \| Malay Mail](https://feedsoft.ai/events/41230-ringgit-appreciates-against-us-dollar-on-improved-market-sentiment-malay-mail.md) | -24.1% | -29.6% |
| PALMOIL | 2018-12-31 | [Ringgit’s performance mixed in 2018 mainly due to external factors \| Malay Mail](https://feedsoft.ai/events/61798-ringgit-s-performance-mixed-in-2018-mainly-due-to-external-factors-malay-mail.md) | +5.3% | +8.0% |
| PALMOIL | 2018-10-31 | [Affin Hwang: Clearer policies in Budget 2019 to give ringgit, Bursa lift \| Malay Mail](https://feedsoft.ai/events/62791-affin-hwang-clearer-policies-in-budget-2019-to-give-ringgit-bursa-lift-malay.md) | -3.7% | -8.1% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2020/10/31/bank-negaras-opr-decision-budget-2021-us-elections-to-influence-ringgit-mov/1918034

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