Ringgit rises to 3-month high, jumps to 2.91 to Singdollar

Ringgit rises to 3-month high, jumps to 2.91 to Singdollar

Malaysia's ringgit rose to a three-month high on Friday (Jan 29), Bloomberg reported, a day after Prime Minister Najib Razak announced a revised budget to shore up the economy from falling commodities.

The currency is headed for its biggest weekly gain since October.

According to The Straits Times, the ringgit strengthened by 1.3 per cent to 2.9113 against the Singapore dollar as of 9.46am, the highest since it closed at 2.7720 on Oct 9.

It also rose 1 per cent to 4.1655 per US dollar and is up 3.2 per cent from Jan 22, according to Bloomberg.

The ringgit fell below 3 to the Singapore dollar for the first time ever in August last year.

seanyap@sph.com.sg

More about

singapore dollar
Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.