[Official Thread] Ringgit Exchange Rate

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danial1992

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Lai lai lai.
I have ringgit in hand. Those interested kindly drop me your offer. Min to chg 1k sgd
Thanks
 
a1v1n_

a1v1n_

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Ringgit reaches 6-month high against Singdollar

Published: 10:29 AM, January 29, 2016

SINGAPORE — The Malaysian ringgit has risen to a six-month high against the Singapore dollar as Brent crude extended a rebound, brightening the outlook for the oil exporter following government steps to shore up the economy.

As of 10.07am today (Jan 29), S$1 was trading at RM2.9140, showed Bloomberg data. The Singdollar closed at RM2.9471 yesterday.

The last time the Singdollar was trading at around RM.291 was in August last year. The Singdollar reached a peak of S$1 to RM3.1201 last September. S$1 had not fallen below RM3 since Oct 14 last year to Jan 22 this year.

The ringgit may outperform Asia emerging markets this year as Brent starts to stabilise, reported Bloomberg. The currency’s 19 per cent loss last year was perhaps a bit overdone, according to Skandinaviska Enskilda Banken AB.

“Oil prices are higher and that’s definitely helping the ringgit and the budget was seen as pretty positive,” said Mr Sean Yokota, Singapore-based head of Asia strategy at SEB. While many Asian countries are looking to fiscal stimulus, the “fact Najib has kept it pretty stable means that he’s still for economic reforms”, he said.

Mr Najib’s 2016 budget revisions announced yesterday included cutting employee state pension contributions and giving tax exemptions for certain groups of workers. The government’s oil assumption price was revised to US$30-US$35 (S$42.79-S$49.92) a barrel from US$48. Brent has rallied more than 16 per cent in two weeks to more than US$33, after falling to its lowest level since 2003. AGENCIES
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AS1

AS1

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Its okay-lah. For the casual change money, its just 10~15 sen less.

Most likely Najib order the local banks to inject money to stimulate the currency. Now depends if there is enough public confidence to keep up the rally because the banks cant do this forever. Most likely Mahathir and other opposition wont question this move because it benefits the people and if the rally fails, the banks will disown najib.
 
a1v1n_

a1v1n_

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AS1 said:
Its okay-lah. For the casual change money, its just 10~15 sen less.

Most likely Najib order the local banks to inject money to stimulate the currency. Now depends if there is enough public confidence to keep up the rally because the banks cant do this forever. Most likely Mahathir and other opposition wont question this move because it benefits the people and if the rally fails, the banks will disown najib.
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thats true. unless you changing in huge amount.
 
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