The news that 1 Singapore dollar is now worth RM3.17 has a lot of people worried about the situation in our country. We are told that the US Dollar is declining but not the Ringgit, however the Ringgit is slipping behind a lot of currencies, including Bitcoin, according to a netizen.
Another netizen, on the other hand, stated that the US Dollar is growing as a result of the dispute with Russia, and that many people are converting their assets to their currency. While some claim that the government is producing more money as a result of the inflation, others argue that the government is just printing more money. Others claim it’s because of our country’s recovery from the Covid-19 virus.
The previous all-time high for SGD against the ringgit was RM3.1650 in 2017. Malaysia, on the other hand, is said to have a stable inflation rate of 2.2 percent, with officials predicting that the country will fully recover by the end of the year.
