# Ringgit ends higher on economic stimulus package announcement - Focus Malaysia

> The ringgit closed sharply higher against the US dollar on Feb 27, 2020, for a second straight day, after the government announced a RM20 billion economic stimulus package to cushion businesses from the Covid-19 outbreak. The package includes deferring monthly income tax payments for tourism businesses from April to September 2020.

- Date: 2020-02-27 · published 2020-02-27T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/54835-ringgit-ends-higher-on-economic-stimulus-package-announcement-focus-malaysia
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A fiscal stimulus that eases growth fears and improves risk appetite strengthens the ringgit, which lowers USD/MYR and makes Malaysian dollar-denominated import costs for feed buyers slightly cheaper.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- focusmalaysia.my: https://focusmalaysia.my/ringgit-ends-higher-on-economic-stimulus-package-announcement/

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