# Ringgit opens higher against US dollar at opening

> The ringgit opened higher against the US dollar on a Tuesday, extending the previous day's gains as demand for the local currency rose with surging crude oil prices. Brent gained about 0.5% to near US$60.85 per barrel. The ringgit also weakened against the euro, yen and pound.

- Date: 2019-10-22 · published 2019-10-22T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/56834-ringgit-opens-higher-against-us-dollar-at-opening
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude prices support the ringgit as a petro-currency and can lift biofuel-linked demand for palm oil, which supports vegetable oil prices.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Sources

- theins.news: https://www.theins.news/postview/42-ringgit-opens-higher-against-us-dollar-at-opening

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