# Ringgit climbs toward 6-month high on oil rally

> The ringgit approached its strongest level in six months against the US dollar as Brent crude climbed to $66.83 a barrel, its highest since November. Traders expect US-China trade talks to be extended beyond the March 1 deadline. China also indicated it may reduce the price of the East Coast Rail Link project in Malaysia.

- Date: 2019-02-20 · published 2019-02-20T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/60861-ringgit-climbs-toward-6-month-high-on-oil-rally
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Higher crude lifts Malaysia's government finances and supports the ringgit, which matters for palm oil and feed costs priced in local currency. The effect on grain and feed prices is limited.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/business/2019/02/461912/ringgit-climbs-toward-6-month-high-oil-rally

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