RM 3.19 to S$1: Ringgit strengthens to 13-month high

The Malaysian ringgit has surged to its highest level since Sep. 25, 2024, 13 months ago.

Back then, it reached RM3.121 to S$1.

On Nov. 6, it strengthened to RM3.118 to S$1.

As of Nov. 10, the ringgit sits at RM3.192 to S$1, according to a number of online currency exchanges.

Bloomberg cited improved optimism over the growth of the Malaysia economy, as well as indications that the Malaysia central bank would hold off on a cut to interest rates.

It also cited "fiscal discipline and political stability" for the ringgit's good performance.

Malaysia prime minister Anwar Ibrahim hosted what was seen as a successful Asean Summit in October 2025, which was highlighted by the in-person visit of U.S. president Donald Trump.

Malaysia was able to announce a trade deal with lower tariffs than first announced, as well as securing exceptions for crucial industries.

With Anwar's political opponents Bersatu mired in infighting, his hand and position as both prime minister and finance minister appear secure, at least in the short to medium term.

In addition, external demand for Malaysian exports may pick up after signs indicated that the two largest global economies, China and the U.S., may agree on a trade deal to stabilise economic relations.

The two giants, which are Malaysia's biggest export partners have already agreed on a tariff "truce" as they seek a deal.

Top image via Google.