February 15, 2024, 05:28 PM
The Singapore dollar hit a historic high of S$1 to RM3.5507 against the Malaysia ringgit on Wednesday, Feb. 14, 2024.
It also hit RM3.5505 on the same day.
The previous record was S$1 to RM3.5418 on Feb. 2.
The Singapore dollar has been appreciating against the ringgit for the past year and around 3.97 per cent in the past six months alone.
Photo from Google
Holders of ringgit, who exchanged the currency for Singapore dollars six months ago and held it since, would have achieved a better yield than fixed deposit rates in Malaysia.
The Singapore dollar has appreciated about 60 per cent in the last 20 years when S$1 was equivalent to RM2.24.
Top photo from Google
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