By G. Sharmila
On June 22, the Singapore dollar hit a high of 2.8 to the ringgit and some are speculating that it will soon hit 3.0 against the ringgit. Others are skeptical. So, what is really driving the ringgit’s weakness against the Singapore dollar? The ringgit hit a 10-year low on June 29, at 3.7843 against the US dollar. Its weakness has been attributed to factors such as Malaysia’s falling forex reserves, falling oil prices and a possible sovereign rating downgrade by Fitch. But are they the real reasons? Are investors’ concerns overdone? KINIBIZ investigates.
You must be logged in to post a comment.