# Ringgit opens lower against US dollar

> The ringgit opened lower against the US dollar at 4.1570/1630 on lack of demand as the greenback firmed. Dealers cited reopening fears, an uncertain oil market and rising Covid-19 cases, along with the upcoming Budget 2021.

- Date: 2020-10-30 · published 2020-10-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/50888-ringgit-opens-lower-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A softer ringgit can make palm oil more competitive for buyers, but the move is small and driven mainly by the dollar and sentiment.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/10/636536/ringgit-opens-lower-against-us-dollar

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