# Ringgit, KLCI down after US interest-rate hike

> The ringgit and Malaysian stock market fell after the US Federal Reserve raised rates by 25 basis points to 2%-2.25%, with further hikes signalled for December and next year. The FBM KLCI hit an intraday low of 1,793.83 before closing slightly lower at 1,798.64.

- Date: 2018-09-28 · published 2018-09-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/63304-ringgit-klci-down-after-us-interest-rate-hike
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A stronger dollar from tighter US policy tends to pressure emerging-market currencies, raising the cost of dollar-priced feed imports for Malaysia and supporting dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-09-18 | [Hike in US interest rate to put pressure on ringgit](https://feedsoft.ai/events/63306-hike-in-us-interest-rate-to-put-pressure-on-ringgit.md) | -0.3% | -0.0% |
| DXY | 2018-06-13 | [Gold erases gains after Fed hikes interest rates](https://feedsoft.ai/events/64440-gold-erases-gains-after-fed-hikes-interest-rates.md) | +1.3% | +0.6% |
| DXY | 2018-10-30 | [BOT expected to hike key interest rate](https://feedsoft.ai/events/62795-bot-expected-to-hike-key-interest-rate.md) | -0.2% | +0.8% |
| DXY | 2026-05-23 | [Ringgit Weakening Amid Hawkish Interest Rate Scenario](https://feedsoft.ai/events/19537-ringgit-weakening-amid-hawkish-interest-rate-scenario.md) | -0.1% | +1.5% |
| DXY | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | +1.4% | +1.4% |
| PALMOIL | 2024-09-26 | [BNM deputy governor: Malaysia’s reforms and US interest rate clarity keep ringgit on the up \| Malay Mail](https://feedsoft.ai/events/28588-bnm-deputy-governor-malaysia-s-reforms-and-us-interest-rate-clarity-keep.md) | +8.4% | +9.5% |
| PALMOIL | 2021-03-30 | [Ringgit opens easier against US Dollar](https://feedsoft.ai/events/48387-ringgit-opens-easier-against-us-dollar.md) | -4.0% | -0.7% |
| PALMOIL | 2024-07-31 | [Ringgit nears 11-month high in 9-day rally against US dollar \| Malaysiakini](https://feedsoft.ai/events/29550-ringgit-nears-11-month-high-in-9-day-rally-against-us-dollar-malaysiakini.md) | -1.9% | +1.5% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2018/09/28/ringgit-klci-down-after-us-interest-rate-hike/

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