# 'Demand, supply imbalance among reason for ringgit's decline' | Malaysiakini

> Bank Negara governor Muhammad Ibrahim said demand and supply imbalances in the onshore FX market drove the ringgit's decline. He pointed to export proceeds not being converted into ringgit and large capital outflows.

- Date: 2017-01-16 · published 2017-01-16T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/73238-demand-supply-imbalance-among-reason-for-ringgit-s-decline-malaysiakini
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency weakness from FX market imbalances raises import costs for Malaysian feed buyers but has limited direct effect on global feed prices.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- malaysiakini.com: https://www.malaysiakini.com/news/369430

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