More good news for those wanting to head across the borders up north for leisure — the Malaysian ringgit has fallen to an all-time low against the Singapore dollar.
The ringgit was recorded to be trading at 2.9708 against the Singapore currency, which also indicates a 17-year low against the US dollar.
TODAY reports that Malaysia’s international reserves fell well below $140.8 billion mark last month.
It shouldn’t come to a surprise though, with all the things happening in Malaysia right now. An internal crisis with the 1MDB saga, plummeting commodity prices as well as investors packing up and leaving have all diminished the currency’s value. Time will tell if things can get so bad that it’ll be SGD 1 to MYR 3 soon.
Photo: Miss Izs via Flickr
