RM3.13 to S$1: M'sia ringgit strengthens against S'pore dollar yet again

The Malaysia ringgit continued to strengthen, briefly pushing the Singapore dollar down to RM3.126 per Singapore dollar, on Jan. 23.

Data from currency exchange website xe.com showed that this was the weakest level for the Singapore dollar against the ringgit since March 2022.

The exchange rate later recovered to about RM3.132 per S$1 in the afternoon, 8world reported.

As of the time of writing, the ringgit sits at RM3.13 to S$1, according to several online currency exchanges.

Earlier on Friday, the ringgit opened near a five-year high after Bank Negara Malaysia’s Monetary Policy Committee left the Overnight Policy Rate unchanged at 2.75 per cent, Malay Mail reported.

The local currency was also trading at around RM4.02 per U.S. dollar at the start of the trading day, a level last seen in January 2021.

Analysts cited policy stability, a softer U.S. dollar and expectations that the U.S. Federal Reserve would keep interest rates unchanged as factors supporting the ringgit’s strength.

As reported by Reuters, Christopher Wong, a currency strategist at OCBC, said Malaysia’s economic fundamentals remain supportive, underpinned by quality foreign direct investment inflows, resilient growth, a wider trade surplus and a clear commitment to fiscal consolidation.

The Singapore dollar had eased from a high of RM3.55 in March 2024, dropping below RM3.20 towards the end of 2025.

Top photos via Getty and Xe.com