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Malaysia's Treasury Secretary-General Mohd Irwan Serigar Abdullah said the ringgit's weakness is short term. He cited expected foreign direct investment and government projects next year, and said oil prices remain stable above US$40 a barrel.
The ringgit opened at 4.45 per dollar amid speculation of a December US rate hike and a stronger dollar.
Official assurances that the weakness is temporary may limit further ringgit depreciation, which would ease pressure on dollar-denominated palm oil prices.
malaysiakini.comBernamaNov 24, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
