On Twitter, a netizen mentioned that the Ringgit is now RM3.13 when compared to the Singaporean dollar. Despite high oil prices right now due to the sanctions of Russia, it is peculiar that our currency is still declining.
Furthermore, it is reported that Ringgit is at its lowest since June 2020 at RM4.28 against US Dollar. Inflation prices are going up, the Ringgit is dropping, we should expect to see a further increase in foreign goods soon.
However, it is not just Malaysia that is going through this problem, it is a worldwide issue as all of us are recovering from the Covid-19 pandemic. It is reported that China also had a small drop in their currency, Yuan as they did not meet their targeted expectation for growth.
Excerpt: Malaysia Ringgit is falling again when compared to Singapore Dollar and US Dollar. This is the lowest we have been since June 2020 right smack in the middle of the pandemic. What are your thoughts on this situation? What do you think is the main cause of the currency dropping?
