The ringgit has strengthened significantly against both the Singapore dollar and US dollar in the past six months, driven by positive economic growth and the US Federal Reserve’s interest rate cut. According to technopreneur Loo Cheng Chuan, the ringgit could rise to 2.90 against the Singapore dollar next year. This boost is attributed to Prime Minister Anwar Ibrahim’s economic policies, which have increased investor confidence. While Malaysian importers and consumers benefit from cheaper goods, Malaysians working in Singapore see reduced income when converted back to RM, and tourists face higher costs when visiting Malaysia.
Ringgit Surge
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