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.