# RM opens lower against USD

> The ringgit opened lower against the US dollar on July 8, 2020, at 4.2800/2860 from 4.2750/2800, as a stronger greenback followed firmer US economic data. Bank Negara Malaysia cut its overnight policy rate by 25 basis points to a record low of 1.75%.

- Date: 2020-07-08 · published 2020-07-08T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52377-rm-opens-lower-against-usd
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit modestly lowers Malaysian dollar-priced palm oil costs for buyers, while the rate cut signals ongoing monetary easing with limited direct feed price impact.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/07/606786/rm-opens-lower-against-usd

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