Ringgit nears RM3 per Singapore dollar, but cross-border spending by Singaporeans holds steady
CNA
From a high of RM3.55 to RM3.10 against the Singapore dollar, the ringgit's rally has been swift – and analysts say it may not be done.
SINGAPORE: When Ms Niki Lee and her boyfriend decided to rent an apartment in Johor Bahru in October 2023, a Singapore dollar could buy them RM3.45. At its peak, this stretched to RM3.55.
Today, it buys around RM3.10, and some analysts say the rate could reach RM3 per Singapore dollar.
For Singaporeans who live, work or spend regularly across the Causeway, the shift has been gradual but real. Yet most say the impact on their daily lives remains manageable, and data suggests they have not changed their spending habits.
Ms Lee, a 31-year-old financial adviser, told CNA that the stronger ringgit has added roughly S$200 (US$160) a month to what she and her boyfriend spend on rent, a car loan and daily expenses in Johor – which now total about RM5,700, or around S$1,860.
She was disappointed when the ringgit began appreciating, but said she is not overly concerned. The Singapore dollar remains strong, and adjustments to spending have been more about budgeting than the exchange rate.
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