As Malaysia ringgit rallies against the Singapore dollar this year, where will it go next?
The currency hits a 13-month high against the greenback, year-to-date peak versus Singdollar
[SINGAPORE] The Malaysian ringgit has rallied about 7 per cent in the year to date against the US dollar, broken a 13-month high last week, and outperformed all other Asian currencies this year.
The currency breached the 4.16 level against the greenback on Tuesday (Nov 11), hitting 4.159 as at 8.59 am, in a continuation of the strong rally it has had since last week.
This outperformance is not just against the American currency; the ringgit has also posted significant gains against the Singapore dollar. SGD/MYR stood at around the 3.18 level on Tuesday, the strongest the ringgit has been against the Singdollar in the year to date.
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