The Malaysian currency rose as much as 0.53 percent against the dollar to 3.8550, its highest since April 2016, bolstered by high oil prices and portfolio inflows. It was last up 0.35 percent at 3.8620 per dollar on Wednesday evening for a third consecutive sessions of gains. Gains in the ringgit, palm's currency of trade, usually weigh on the tropical oil by making it more expensive for holders of foreign currencies
KUALA LUMPUR: Malaysian palm oil futures declined on Monday evening, charting a second session of decline in three, as the market was pulled down by weaker demand and overnight losses in U.S. soyoil.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange fell 0.3 percent to 2,408 ringgit ($617.99) a tonne at the end of the trading day.
Limited time offer:
Just RM5 per month.
