S$1 To RM3.54: M’sian Ringgit Hits All-Time Low Against S’pore Dollar

1 SGD = RM3.54.

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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Haze in malaysia
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In line with the Federal Territories Day, the currency market was closed on Thursday.

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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.

Malaysian ringgit hits all time low

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.

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Earlier, many Singapore money changers had already run out of the Malaysian currency when it hit the 3.5 Mark.

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