The Chief Minister of Johor, Datuk Onn Hafiz Ghazi, said that the Ringgit dropping to an all time low against the Singapore Dollar is actually beneficial to Johor.
Advertisements
The exchange rate for S$1 is worth RM3.14, at the time of writing.
Speaking to Sinar Harian, Hafiz said that the lowered value of the RM against the SGD will see more Singaporeans being encouraged to spend more in Johor.
this will actually benefit small businesses and traders in Malaysia.
Hafiz also added that the currency exchange rate is only temporary, and that the issues with inflation won’t last long.
Advertisements