# Ringgit remains resilient and debt manageable, says BNM

> Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus said the ringgit remains resilient despite contagion worries from Turkey's lira plunge, having depreciated only 0.9% against the dollar this year. She attributed the decline mainly to external factors, including faster expected US rate hikes, trade tensions and Turkish developments. The central bank said it will keep markets orderly and liquidity sufficient.

- Date: 2018-08-20 · published 2018-08-20T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/63774-ringgit-remains-resilient-and-debt-manageable-says-bnm
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit makes Malaysian palm oil cheaper in dollar terms and supports exports, while a stable central bank reduces the risk of abrupt currency-driven moves in palm oil and other Malaysian-linked commodity prices.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-02-21 | [The Malaysian Ringgit and Thai Baht face persistent depreciatory pressures](https://feedsoft.ai/events/31955-the-malaysian-ringgit-and-thai-baht-face-persistent-depreciatory-pressures.md) | +0.3% | +9.0% |
| PALMOIL | 2017-06-30 | [Continued non-resident inflow leads to Ringgit's appreciation: BNM - The Malaysian Reserve](https://feedsoft.ai/events/70758-continued-non-resident-inflow-leads-to-ringgit-s-appreciation-bnm-the-malaysian.md) | +2.7% | +4.0% |
| PALMOIL | 2024-01-30 | [State Street says Malaysian ringgit at risk of hitting new low](https://feedsoft.ai/events/32374-state-street-says-malaysian-ringgit-at-risk-of-hitting-new-low.md) | -3.0% | -1.0% |
| PALMOIL | 2017-12-19 | [Ringgit remains supported with higher China trade going into 2018 - The Malaysian Reserve](https://feedsoft.ai/events/67747-ringgit-remains-supported-with-higher-china-trade-going-into-2018-the-malaysian.md) | -0.6% | +3.1% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2018/08/20/ringgit-remains-resilient-and-debt-manageable-says-bnm/

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