# Ringgit opens higher against US dollar

> The ringgit opened higher against the US dollar on renewed demand for the local currency as crude oil prices recovered. Brent was trading around US$21.20 per barrel. The ringgit also weakened against the Singapore dollar, yen, pound and euro at the open.

- Date: 2020-04-27 · published 2020-04-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/53928-ringgit-opens-higher-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Malaysia is a net oil exporter and the ringgit tracks crude and risk sentiment closely, so a firmer oil price supports the currency. This is a currency move rather than a direct change in feed-ingredient supply or demand.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-04-30 | [Ringgit opens higher against USD](https://feedsoft.ai/events/53929-ringgit-opens-higher-against-usd.md) | +33.7% | +72.6% |
| BRENT | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +4.3% | +14.2% |
| BRENT | 2019-03-21 | [Ringgit opens eight-months high against US dollar \| FMT](https://feedsoft.ai/events/60368-ringgit-opens-eight-months-high-against-us-dollar-fmt.md) | -1.2% | +4.3% |
| BRENT | 2021-09-30 | [Ringgit opens lower against US dollar \| Malay Mail](https://feedsoft.ai/events/45319-ringgit-opens-lower-against-us-dollar-malay-mail.md) | +3.8% | +7.8% |
| BRENT | 2022-02-18 | [Ringgit opens higher against US dollar on steady commodity prices](https://feedsoft.ai/events/42965-ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices.md) | +6.4% | +16.9% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/04/587758/ringgit-opens-higher-against-us-dollar

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