The Federal Reserve’s decision to maintain the interest rate at 5.5% has led to a strengthening of the Malaysian Ringgit against the US dollar, while the Ringgit hit a new historical low against the Singapore dollar, dipping to 3.5415 at one point.
In line with the Federal Territories Day, the currency market was closed on Thursday.
M’sian Ringgit hits all-time low
According to currency converter site XE, the Ringgit opened at 4.7292 against the US dollar, slightly stronger by 0.03% compared to Wednesday’s close of 4.7305, and improved to 4.7285 by 11 am.
The Ringgit commenced lower against the Singapore dollar at 3.540, a decline of 0.24% from Wednesday’s close of 3.5322, continuing to weaken and briefly reaching a new historical low of 3.5415.
Earlier, many Singapore money changers had already run out of the Malaysian currency when it hit the 3.5 Mark.
Read our coverage here:
