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Ringgit races pass RM3 mark against Sing dollar

Anita Gabriel

Anita Gabriel

Published Mon, Aug 24, 2015 · 09:50 PM
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Singapore

RINGGIT-wage earners watched in agony as the Malaysian currency tumbled precipitously from RM2.956 early in the day to race past the RM3 mark against the Singapore dollar for the first time ever on Monday.

The steep fall in the Malaysian ringgit has taken the currency further away from the RM2.52/SGD level of a year ago with some analysts describing the sell off as extreme although none dare to say that the pressure on the ringgit will ease soon.

"My boss based in KL is now earning less than her subordinates based in Singapore. Let's just say she's not very happy about that,…

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