Friday, October 3, 2025
  • Lowyat.NET
  • Lipstiq
  • Murai MY
  • Miss Murai
  • Varnam
  • Moviedash
  • Autofreaks
No Result
View All Result
Hype Malaysia
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
    • Contests
Hype Malaysia
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
    • Contests
No Result
View All Result
Hype Malaysia
No Result
View All Result
Home News

Malaysian Ringgit Drops To Lowest Record Of 3.48 Against Singapore Dollar

by Rachel Chuah
October 20, 2023
Source: Flickr

Source: Flickr

51
SHARES
Share on FacebookShare on Whatsapp

Money makes the world go round. As such, it’s no surprise that people are worried for our national currency, the ringgit (MYR) especially after hearing it has depreciated to an all-time-low, this time against both the US dollar (USD), and the Singapore dollar (SGD).

As at 5pm yesterday (19th October), the ringgit was reportedly traded at 4.764 to the dollar. As for the Singapore dollar, the ringgit had depreciated to 3.48 against it, reportedly making this the highest level of depreciation since Malaysia and Singapore went their separate ways.

Source: Flickr

The ringgit reportedly depreciated 0.42% against the Singapore dollar at the opening of the market before falling to 3.4958, expending the depreciation to 0.73%. When the market closed, the ringgit was reportedly trading at 3.4797 against the Singapore dollar, down 0.27% from yesterday’s closing price of 3.4702.

According to the New Straits Times, the ringgit’s sudden and worrying depreciation is being caused by two factors, the higher US Treasury bond yields and safe haven US dollar demand. However, they have also reassured that the Bank of Japan (BoJ) and the People’s Bank of CHina (PBoC) are attempting to stablise Asian currencies via intervention.

Some are also concerned that the ringgit may open lower against the US dollar thanks to the current on-going conflict in the Middle East. In an interview with Bernama, Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid reportedly stated that in the near term, the currency market would continue to witness a volatile currency landscape.

Source: China Press

Worryingly enough, Free Malaysia Today adds that economists have expressed concern that the ringgit could reach the RM5 to a dollar mark. Previously, in 1998, the ringgit hit an all time low of RM4.7250 to the dollar, and this held for almost a quarter century. However, things did change 4th November last year when the ringgit fell to 4.7460 to the dollar.

However, Malaysia University of Science and Technology economist Dr Geoffrey Williams claims otherwise. According to New Straits Times, he believes the ringgit will eventually moderate and will not hit 5.000 to the dollar, and cautions against drastic measures.

As he has told the Business Times: “To strengthen the ringgit, the only real thing is to clarify policy, endure market liquidity and maintain sound fiscal and monetary policy conditions to promote price stability and sustainable growth and investment. These are lessons to be learned from the past.”

Source: The Sun Daily

Like many others, we too hope things will stablise soon. In the meantime, it might be best to keep an ear out for further news.

Sources: China Press, New Straits Times, Bank Negara Malaysia (1)(2), Malay Mail

ringgitSingapore dollarUS dollar
https://lomp.at/w1ysz
Share20SendTweet13Share

Follow us on Instagram, Facebook or Telegram for more updates and breaking news. 

FOLLOW THE HYPE

Source: Facebook/Books Kinokuniya Malaysia
News

Kinokuniya Bookstore Warns Customers To Beware Of Fake Free Book Scams

by Melissa
September 29, 2025

Kinokuniya Malaysia has issued a public warning after discovering several fraudulent social media accounts impersonating the bookstore. These fake accounts...

Read more
SOURCES: FACEBOOK (Selangor Royal Office) & INSTAGRAM (@rmselangor)
News

Several Road Closures In Klang This Weekend In Conjunction With Selangor Crown Prince’s Wedding

Earlier this week, Raja Muda of Selangor Tengku Amir Shah, announced his plans to marry his partner, Afzaa Fadini Abdul...

Read more
by Adleena
September 26, 2025
Source: YouTube/PlayStation
News

(Video) Is Malaysia Featured In The Upcoming Marvel’s “Wolverine” Video Game?

We always love it when Malaysia is mentioned or featured in an international project – whether it’s a film, a...

Read more
by Afiq Amin
September 26, 2025
Source: IG/wearelol.asia, RepublicRecords
News

(Video) Netizens Slam The Alice Experiment Creators Over AI Vs Animation Comparison

Earlier this month, following heavy backlash from anime and cosplay fans, Cos-Mic Asia issued an apology for inviting the AI...

Read more
by Afiq Amin
September 26, 2025
SOURCE: FACEBOOK (@mmCineplexes)
News

mmCineplexes Announce Immediate Closure After Parent Company Enter Voluntary Liquidation

Things don’t seem to be looking positive for cinema chains recently, with many outlets closing down in the past few...

Read more
by Adleena
September 24, 2025
SOURCES: TIKTOK (@cerita_apa01) & INSTAGRAM (@mystarbucks)
News

(Video) Starbucks Malaysia Issues Statement About Viral Incident At KLIA2 Branch

Starbucks Malaysia hasn’t had the best press in recent months, given the ongoing boycott. The coffee chain recently faced another...

Read more
by Adleena
September 23, 2025
Source: Twitter/ EkonomiRakyatMY, IG/merdeka118
News

Maybank Denies Claims Of Signage Removal From Merdeka 118 Tower

A lot seems to have happened over the weekend. Photos of the Maybank name displayed at the summit of the...

Read more
by Afiq Amin
September 22, 2025
News

Muslim Pro Launches Stories by Muslim Pro to Spotlight Global Muslim Voices

Muslim Pro, the world’s most popular Muslim lifestyle app, has officially launched Stories by Muslim Pro, a creative hub dedicated...

Read more
by Dean Zaini
September 18, 2025
Load More


TOP STORIES TODAY

  1. 1

    #SIWON_OUT: Super Junior Choi Siwon Under Fire For Islamophobic Post

  2. 2

    Siti Nurhaliza To Hold “Legacy 30” Anniversary Concert In 2026

  3. 3

    Aaron Kwok’s Wife Moka Fang Reportedly Gave Birth To Baby Boy

  4. 4

    “See You In Jail”: M’sian Actress Ardell Aryana & Singer Zizi Kirana Share Update On Flotilla Mission To Gaza

  5. 5

    Ryu Da In: 6 Fun Facts About “Bon Appétit, Your Majesty” Actor Lee Chae Min’s GF

Malaysia’s live-wire for the latest news, trends, and entertainment is finally here. We are your calendar, your grapevine, your comic relief, your post-event coverage, and your celebrity stalker. Did we also mention that we are also your gateway to the world?



Contact us: newsdesk@hype.my



  • About
  • Advertise
  • Jobs
  • Terms
  • Privacy Policy

©2025 Vijandren Ramadass. All Rights Reserved.

No Result
View All Result
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
    • Contests

©2025 Vijandren Ramadass. All Rights Reserved.

No Result
View All Result
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
    • Contests

©2025 Vijandren Ramadass. All Rights Reserved.