The Singapore dollar is strong and has always been strong, but the Ringgit may fall within the range of RM3.35 to RM3.45 while it is likely to hit a crazy RM5.00 against the US dollar.
At least, this is the view of analysts who says it might happen if the Singapore dollar maintains its strength and if the RM continues to bend to pressure, while the USD is definitely rocking hard ahead of our currency.
Most of this pressure is from local inflation and from the strong showing of the U.S. economy and currency, aggressive U.S. rate hikes along with greater political uncertainty caused by the Malaysian election outcome, a fall in commodity prices and a sharp drop in economic growth figures from China and Asia.
Ringgit May Fall AGAIN
BNM is set, this Thursday, to raise interest rates by a quarter point on Thursday to 2.75 per cent to mitigate soaring inflation and support the weakening currency.
