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Monday, August 15, 2022
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SG DOLLAR ALL-TIME HIGH AGAINST M’SIA RINGGIT $1 TO RM3.23

20 years ago, the exchange rate between Singapore dollars and the Malaysian Ringgit is around $2.20 cents.

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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.

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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

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