# Research firm expects recovering oil prices to limit ringgit from depreciating | Malaysiakini

> Fitch Solutions revised its 2020 and 2021 ringgit forecasts to RM4.30 and RM4.20 per US dollar, from RM4.35 and RM4.25 previously. The firm said recovering crude oil prices, supported by OPEC+ production cuts, should limit ringgit weakness in the short term.

- Date: 2020-06-28 · published 2020-06-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52884-research-firm-expects-recovering-oil-prices-to-limit-ringgit-from-depreciating
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A stronger ringgit forecast means Malaysian palm oil is priced more favorably for foreign buyers, which can help firm export demand. Oil price recovery also supports biodiesel demand for palm oil.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-09-08 | [Ringgit ends lower as oil prices rise, Fed decision looms \| Malay Mail](https://feedsoft.ai/events/17731-ringgit-ends-lower-as-oil-prices-rise-fed-decision-looms-malay-mail.md) | +10.4% | +7.7% |
| BRENT | 2018-04-30 | [Higher oil prices to divide emerging markets, benefit Malaysia](https://feedsoft.ai/events/65778-higher-oil-prices-to-divide-emerging-markets-benefit-malaysia.md) | -0.2% | +2.0% |
| BRENT | 2026-03-28 | [Ringgit expected to hover around 4.00 amid oil‑driven inflation fears, hawkish Fed \| Malay Mail](https://feedsoft.ai/events/20419-ringgit-expected-to-hover-around-4-00-amid-oil-driven-inflation-fears-hawkish.md) | +1.2% | -5.1% |
| BRENT | 2023-01-10 | [OPEC pricing power limits downside risks to oil prices, Goldman says \| Financial Post](https://feedsoft.ai/events/37951-opec-pricing-power-limits-downside-risks-to-oil-prices-goldman-says-financial.md) | +6.9% | +2.8% |
| BRENT | 2022-02-28 | [Ringgit opens firmer against US dollar, supported by oil prices \| Malay Mail](https://feedsoft.ai/events/42959-ringgit-opens-firmer-against-us-dollar-supported-by-oil-prices-malay-mail.md) | +23.1% | +23.8% |

## Sources

- staging.malaysiakini.com: https://staging.malaysiakini.com/news/532235-research-firm-expects-recovering-oil-prices-to-limit-ringgit-from-depreciating

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