The Federal Reserve’s decision to maintain the interest rate at 5.5% has led to a strengthening of the Malaysian Ringgit against the US dollar, while the Ringgit hit a new historical low against the Singapore dollar, dipping to 3.5415 at one point.
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In line with the Federal Territories Day, the currency market was closed on Thursday.
M’sian Ringgit hits all-time low
According to currency converter site XE, the Ringgit opened at 4.7292 against the US dollar, slightly stronger by 0.03% compared to Wednesday’s close of 4.7305, and improved to 4.7285 by 11 am.
![S$1 To Rm3.54: M'Sian Ringgit Hits All-Time Low Against S'Pore Dollar | Weirdkaya Malaysian ringgit hits all time low](https://cdn.weirdkaya.com/wp-content/uploads/malaysian-ringgit-hits-all-time-low.png)
The Ringgit commenced lower against the Singapore dollar at 3.540, a decline of 0.24% from Wednesday’s close of 3.5322, continuing to weaken and briefly reaching a new historical low of 3.5415.
Earlier, many Singapore money changers had already run out of the Malaysian currency when it hit the 3.5 Mark.
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