The ringgit is just slipping even lower these past couple of days. After breaching the record low of 3 against the Singapore Dollar, the Malaysian Ringgit has sunk even lower to 3.12 for the first time says Bloomberg.
Malaysia’s ringgit is reported to be heading for the biggest quarterly loss since 1997, and the country’s reserves have declined the most among Southeast Asia’s five biggest economies in 2015. The 1MDB scandal involving Prime Minister Najib Razak is not helping things at all.
The Singapore dollar on the other hand has also slipped down to a six-year low of $1.4335 against the US dollar yesterday.
Photo: Dollars and Sense
