The Singapore dollar is not just high against the Malaysian Ringgit, it appears it’s the same story for the Japanese Yen. Our neighboring country has gone on a path to strengthen the value of their dollar. Previously, the Australian dollar was on par with them, now, it’s an entirely different story.
Singapore Dollar reaches all time high against Yen
Users state that Japanese food in Singapore is still rather expensive, despite the Singapore dollar being stronger than it. The country is choosing an alternative method to combat inflation for their people. Currently, it seems that this is rather an effective method, but tourists from neighboring countries are probably not able to afford coming to Singapore.
Furthermore, the country has made several efforts for tourism by having major artists like Taylor Swift coming to perform. Other netizens state that a nation having weaker currencies can help export goods to other countries.