Report: All time high for Singapore dollar against Malaysian ringgit

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S$1 to RM3.1964 at one point 😳

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KUALA LUMPUR, May 23 — The Singapore dollar hit an all-time high earlier today against the Malaysian ringgit, a report showed today. International news outlet Channel News Asia reported that the Singapore dollar reached RM3.1964 this morning before dropping slightly to 3.1950 later in the day. “SGDMYR hit a record high of 3.1964 this morning , largely due to strength in the Singapore dollar, as preferred by MAS officials.

Harvey said that US President Joe Biden’s decision to mull cutting tariffs on Chinese goods has helped lift the Chinese Yuan to its highest point since May 5 — which has indirectly helped the Singapore dollar. “With the yuan holding the largest share in Singapore’s S$NEER basket, the rally in CNY dragged SGD higher too as currency traders looked to offset the depreciation in the Sing dollar relative to CNY with other currencies.

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