[Official Thread] Ringgit Exchange Rate

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jq75

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SINGAPORE - The Malaysian ringgit fell further on Tuesday (Aug 25), into uncharted territory against the Singapore dollar.

It slumped to a low of 3.0303 to the Singdollar at 8:12am before recovering to trade at 3.0194 at 8:45am.

Customers flocked to the money changers on Monday to snap up ringgit after the Malaysian currency crossed the psychological threshold of three to the Singdollar.

The Malaysian unit fell about 1.4 per cent on Monday to settle at 3.0166 to one Singdollar, leaving it down 19 per cent from a year ago.

The ringgit led the fall in Asian currencies on Monday on a global selloff in all assets, safe for the very safest, that followed China's surprise yuan devaluation two weeks ago.

Before Monday, the ringgit has been sliding as crude oil prices slumped and investor confidence suffered from a political scandal involving Prime Minister Najib Razak.
 

AS1

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Still waiting for petrol prices to follow the drop. in the mean time, moneychangers unlikely to give 3:1 till the rate drops further or they want more sgd.
 

koolaid

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Still waiting for petrol prices to follow the drop. in the mean time, moneychangers unlikely to give 3:1 till the rate drops further or they want more sgd.

yea, most likely when spot hits above 304, they will start letting go their myr at 3 ba...
 

dede1217

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Still waiting for petrol prices to follow the drop. in the mean time, moneychangers unlikely to give 3:1 till the rate drops further or they want more sgd.

yup agree lo ...
maybe when it hits 3.05 like that, then maybe they would give 3 ?
 
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