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The ringgit closed at 4.36 per US dollar after dipping to 4.40 intraday as commodity-sensitive currencies fell. The May WTI contract settled at about US$10 per barrel, and the June contract had halved in two sessions.
Analysts said the ringgit could keep struggling until oil prices stabilise.
Weak crude signals excess supply and weak demand, which hurts oil-linked currencies like the ringgit. Persistent energy weakness also feeds into broader commodity and input cost expectations.
themalaysianreserve.comDzulApr 23, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
