# Ringgit's weakness is short term, says Treasury sec-gen | Malaysiakini

> 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.

- Date: 2016-11-24 · published 2016-11-24T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/74112-ringgit-s-weakness-is-short-term-says-treasury-sec-gen-malaysiakini
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Official assurances that the weakness is temporary may limit further ringgit depreciation, which would ease pressure on dollar-denominated palm oil prices.

## Read by commodity

- USDMYR: neutral

## Sources

- malaysiakini.com: https://www.malaysiakini.com/news/363963

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