The Ringgit now drops to an all-time low against the Singapore Dollar on 25 April 2022

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Sgd 1.00 to RM 3.1688 (25 April 2022)

At the money changers, Sgd 1.00 to RM 3.17 (25 April 2022)

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Sgd 1.00 to RM 3.1688 (25 April 2022)

Singapore dollar hits all time high against ringgit today

Monday, 25 Apr 2022 04:53 PM MYT

BY R. LOHESWAR

KUALA LUMPUR, April 25 — After hitting a five-year high last week the Singapore dollar continues its upward trend against the Malaysian ringgit, hitting an all time high of 1:3.1688 at the time of writing according to Bloomberg.com.

This comes a few weeks after the reopening of borders following Malaysia’s transition into the endemic stage.

Malay Mail’s check on Bloomberg showed the exchange rate as of 4.10pm was steadily holding at the 3.1683 mark beating the previous high of 3.1650 from five years ago.

On Exchangerates.org.uk the trend of Singapore dollar increasing started on April 10, 2022, where it sat at 1:3.0974. On April 17, 2022, that number rose to 1:3.1197 and a week later on April 24 it hit 3.1572.

According to a Bernama report, The SGD-to-MYR exchange rate rose to a record high of 1:3.1665 in the morning but weakened against the US dollar (USD) to 4.3490 at the from the previous close at 4.3230.

Currently, the ringgit stands at 4.3553 to one US dollar according to Bloomberg.

https://www.malaymail.com/news/malaysia/2022/04/25/singapore-dollar-hits-all-time-high-against-ringgit-today/2055567

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Ang Hwee Min @HweeMinCNA

25 Apr 2022 07:16PM (Updated: 25 Apr 2022 07:27PM)

SINGAPORE: Money changers in central Singapore saw a surge of people lining up to buy Malaysian ringgit on Monday (Apr 25), as it weakened further against the Singapore dollar. 

The Singapore dollar was at 3.17 against the Malaysian ringgit at about 6pm on Monday, up from 3.10 levels in early April.

This is already more than 2 per cent up over the past one to two weeks, said senior currency analyst at MUFG Bank Jeff Ng. 

From 1pm to 2.30pm, long queues formed outside money changers at The Arcade at Raffles Place without abating. Many people were there to change Singapore dollars into Malaysian ringgit, employees told CNA. 

Money changers at The Arcade and People’s Park Complex were selling Malaysian ringgit at a rate of S$1 to RM3.10 to RM3.12.

At The Arcade, at least seven money changers were out of Malaysian ringgit by about 2.30pm and had to turn some customers away. 

“That’s why here no queues,” said an employee at Money Matters Foreign Exchange on the second floor of The Arcade, who declined to be named. 

Money changers at The Arcade and People’s Park Complex said they started to see more customers looking to change Singapore dollars for Malaysian ringgit from last week, with even more looking to exchange currencies on Monday. 

Most of the outlets that had the currency in stock saw queues during lunchtime, with customers changing up to S$3,000 to S$4,000 for Malaysian ringgit. 

“I’ve got no more stock. Just finished today,” said an employee at Hasan Trading Money Exchange, who only wanted to be known as Mr Ismail. 

“The holidays are coming, that’s why people buy ringgit. Hari Raya also is very important,” he said, noting that the Singapore-Malaysia land borders have also reopened

https://www.channelnewsasia.com/singapore/money-changers-queue-ringgit-weaken-singapore-dollar-exchange-rate-2645996

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https://tnp.straitstimes.com/news/singapore/sg-msia-exchange-rate-hits-5-year-high-someone-exchanges-rm100000

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