# Aug 24: Ringgit opens higher against US dollar

> The ringgit opened higher against the US dollar on August 24, quoted at 4.2750/2800 versus 4.2780/2800 the previous day. Dealers cited higher foreign reserves of US$100.40 billion and surprisingly strong second-quarter GDP growth, while the dollar weakened after Trump's remarks on terminating NAFTA.

- Date: 2017-08-24 · published 2017-08-24T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/69725-aug-24-ringgit-opens-higher-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer ringgit and weaker dollar reduce the local-currency cost of imported feed inputs for Malaysia, while having little direct effect on grain or meal prices.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/business/2017/08/271849/aug-24-ringgit-opens-higher-against-us-dollar

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