# Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg

> The Malaysian ringgit has been among the worst performing Asian currencies this year, facing political and economic headwinds. A rebound in crude prices has been one of few supports, but OPEC+ plans to taper output cuts raise downside risks to oil.

- Date: 2020-07-19 · published 2020-07-19T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Ringgit weakness against the dollar makes Malaysian-priced palm oil and other exports more competitive, while a falling oil price would weigh on the currency and Malaysian import costs for feed inputs.

## Read by commodity

- WTI: neutral
- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-06-23 | [Ringgit opens higher at 4.1510 despite stronger US dollar \| Malay Mail](https://feedsoft.ai/events/46862-ringgit-opens-higher-at-4-1510-despite-stronger-us-dollar-malay-mail.md) | -0.0% | -3.9% |
| WTI | 2026-06-11 | [IDR/USD: Why the Rupiah Is Falling and What It Means for Indonesia’s Economy - Bloomberg](https://feedsoft.ai/events/19106-idr-usd-why-the-rupiah-is-falling-and-what-it-means-for-indonesia-s-economy.md) | -14.0% | -24.3% |
| WTI | 2021-09-30 | [Why are gas prices on the rise and what does this mean for Singapore? - CNA](https://feedsoft.ai/events/45222-why-are-gas-prices-on-the-rise-and-what-does-this-mean-for-singapore-cna.md) | +3.5% | +10.2% |
| WTI | 2017-03-30 | [Why the outlook for the loonie is such a bummer - The Globe and Mail](https://feedsoft.ai/events/72214-why-the-outlook-for-the-loonie-is-such-a-bummer-the-globe-and-mail.md) | +3.4% | -1.1% |
| WTI | 2022-07-13 | [Responses to questions by Matthew Bristow from Bloomberg](https://feedsoft.ai/events/40782-responses-to-questions-by-matthew-bristow-from-bloomberg.md) | +8.7% | -4.9% |
| PALMOIL | 2026-04-20 | [Malaysian Ringgit Set to Test New High for 2026, Strategists Say - Bloomberg](https://feedsoft.ai/events/19962-malaysian-ringgit-set-to-test-new-high-for-2026-strategists-say-bloomberg.md) | +1.1% | -0.7% |
| PALMOIL | 2023-03-06 | [MYR/USD: Worst for Malaysia Ringgit Seen Over on China Reopening - Bloomberg](https://feedsoft.ai/events/37148-myr-usd-worst-for-malaysia-ringgit-seen-over-on-china-reopening-bloomberg.md) | -5.6% | -9.0% |
| PALMOIL | 2024-07-31 | [MYR/USD: Malaysia Ringgit Rebound Set to Accelerate on Fed Rate Cuts, Exports - Bloomberg](https://feedsoft.ai/events/29549-myr-usd-malaysia-ringgit-rebound-set-to-accelerate-on-fed-rate-cuts-exports.md) | -1.9% | +1.5% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-07-19/headwinds-for-the-malaysian-ringgit-are-only-getting-stronger

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