Increasingly battered on all sides by the world economy and the ongoing 1MDB controversy, the Malaysian ringgit sank even lower against the currency of its southern neighbours.
The Singapore dollar climbed to new heights against the ringgit early this morning, according to Bloomberg data — SGD1 = RM3.1474. The exchange rate eased back to SGD1 to RM3.1331 as of writing.
A currency expert speaking to TODAY however noted that the new record high against the ringgit can be attributed to the gaining strength of the Singapore dollar. In fact, the Sing dollar gained 0.6 percent against the US dollar on Tuesday.
Of course, that could also be due to the fact that President-elect Donald Trump suggested to The Wall Street Journal that he favoured a weaker dollar, finding the currency “too strong”.
