# Ringgit jumps on Opec, yuan at three-month high, other Asian currencies drift | Malay Mail

> The ringgit rose after OPEC's decision to extend its output cut, and the yuan hit a three-month high against the dollar while other Asian currencies drifted. The move reflects improved emerging-market risk appetite after the OPEC extension.

- Date: 2017-05-26 · published 2017-05-26T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/71274-ringgit-jumps-on-opec-yuan-at-three-month-high-other-asian-currencies-drift
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Regional currency strength lowers dollar-priced feed import costs for Asian buyers, and the OPEC-driven oil move feeds into energy and freight costs.

## Read by commodity

- WTI: bullish ▲
- USDCNY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-05-24 | [The Chinese Yuan Jumps to a 2-Month High - Business Insider](https://feedsoft.ai/events/8838-the-chinese-yuan-jumps-to-a-2-month-high-business-insider.md) | -1.1% | -0.9% |
| USDCNY | 2024-10-01 | [Malaysian ringgit hits more than 3-year high on China stimulus, leads Asian FX rally](https://feedsoft.ai/events/28590-malaysian-ringgit-hits-more-than-3-year-high-on-china-stimulus-leads-asian-fx.md) | -0.0% | +1.6% |
| USDCNY | 2019-11-06 | [China sets yuan midpoint at three-month high \| Financial Post](https://feedsoft.ai/events/56292-china-sets-yuan-midpoint-at-three-month-high-financial-post.md) | +0.2% | +0.5% |
| USDCNY | 2021-10-19 | [China's yuan jumps to 4-month high as property concerns ebb \| Reuters](https://feedsoft.ai/events/7481-china-s-yuan-jumps-to-4-month-high-as-property-concerns-ebb-reuters.md) | -0.7% | -0.6% |
| USDCNY | 2017-07-31 | [Emerging Asian currencies edge up as dollar sinks; yuan heads for third straight monthly gain](https://feedsoft.ai/events/70202-emerging-asian-currencies-edge-up-as-dollar-sinks-yuan-heads-for-third-straight.md) | -0.1% | -1.3% |
| WTI | 2026-04-30 | [Ringgit closes softer against major currencies on oil volatility, US Fed stance \| Malay Mail](https://feedsoft.ai/events/19960-ringgit-closes-softer-against-major-currencies-on-oil-volatility-us-fed-stance.md) | -10.8% | -16.4% |
| WTI | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +5.2% | +14.7% |
| WTI | 2020-04-22 | [Ringgit closes higher as sentiment on oil improves - Focus Malaysia](https://feedsoft.ai/events/53932-ringgit-closes-higher-as-sentiment-on-oil-improves-focus-malaysia.md) | +33.7% | +249.4% |

## Sources

- beta.malaymail.com: https://beta.malaymail.com/news/money/2017/05/26/ringgit-jumps-on-opec-yuan-at-three-month-high-other-assian-currencies-drif/1385567

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