# Ringgit closes higher as sentiment on oil improves - Focus Malaysia

> The ringgit closed higher against the US dollar as risk sentiment improved on oil. Hopes for an expanded OPEC+ intervention weakened demand for the dollar against oil-sensitive currencies. The ringgit also strengthened against the yen, Singapore dollar, pound and euro.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/53932-ringgit-closes-higher-as-sentiment-on-oil-improves-focus-malaysia
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of OPEC+ support lift crude and oil-linked currencies, which can ease Malaysian import costs. The move is currency-driven, with limited direct effect on feed-ingredient supply.

## Read by commodity

- WTI: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | +5.2% | +14.7% |
| WTI | 2026-04-30 | [Ringgit closes softer against major currencies on oil volatility, US Fed stance \| Malay Mail](https://feedsoft.ai/events/19960-ringgit-closes-softer-against-major-currencies-on-oil-volatility-us-fed-stance.md) | -10.8% | -16.4% |
| WTI | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | -10.8% | -16.4% |
| WTI | 2017-05-26 | [Ringgit jumps on Opec, yuan at three-month high, other Asian currencies drift \| Malay Mail](https://feedsoft.ai/events/71274-ringgit-jumps-on-opec-yuan-at-three-month-high-other-asian-currencies-drift.md) | -2.1% | -11.9% |
| WTI | 2016-11-30 | [C$ edges higher against firmer greenback as oil surges](https://feedsoft.ai/events/74053-c-edges-higher-against-firmer-greenback-as-oil-surges.md) | +12.5% | +19.3% |

## Sources

- focusmalaysia.my: https://focusmalaysia.my/ringgit-closes-higher-as-sentiment-on-oil-improves/

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