# Ringgit opens higher against US dollar

> The ringgit opened higher on 13 April 2017 at 4.3960/4010 as investors kept buying Asian currencies. Bank Negara allowed institutional investors to hedge up to 100% of underlying assets, up from 25%, and added the pound, euro and yen to the hedging list.

- Date: 2017-04-14 · published 2017-04-14T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/71756-ringgit-opens-higher-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Easier hedging should reduce the cost of holding ringgit assets and support the currency. A firmer ringgit lowers the local-currency cost of dollar-priced Malaysian palm oil.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/business/2017/04/230417/ringgit-opens-higher-against-us-dollar

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