20 years ago, the exchange rate between Singapore dollars and the Malaysian Ringgit is around $2.20 cents.
One did not expect the Malaysian Ringgit to fall further against Singapore dollars. Earlier today, the Singapore dollar against the Malaysian Ringgit reached an all-time high of S$1 to RM 3.23.
Singapore’s currency has been rising continuously since the 2nd quarter of 2022 against the Malaysian Ringgit.
A few of the Malaysian workers who are working in Singapore posted screenshots of exchange rates offered by CIMB bank via i-banking.
As the Singapore dollar gets stronger, many Malaysians posted in various groups stating it is time to cash out their savings in Singapore and send it to their Malaysian accounts.
The previous highest record was on 23 May 2022 (RM3.19), which triggered long queues at various money changers in Singapore.
Many netizens said that they will expect to see a long queue at money changers again if the rates continue to maintain or rise.
History of Singapore Dollars Against Malaysian Ringgit
