Malaysia’s Ringgit has currently depreciated further against the Singapore Dollar at its new all time low of RM3.2182 for $1. According to a local news agency, Bank Negara mentioned that the Ringgit is still stable regardless of the sharp drop.
Most major currencies such as the US Dollar and Euro have also depreciated with regards to Covid lockdowns and the high level of inflation. However, Ringgit has also fallen against the US Dollar.
Netizens are complaining that under Pakatan Harapan (PH) rule the ringgit was more stable and inflation wasn’t as high as it is now. However, this is discounting the fact that during PH rule there were no pandemic and massive inflations world wide.
