Now, if you are staying in SG, sometimes when you head to the mall , you see long queues at the Money changer, then it is likely when the SGDMYR exchange rate is good. Malaysians who have vested interest back home will enjoy converting their SGD to a better Ringgit when they go home.
Of course, those Singaporeans , maybe retirees who aspire to own a landed property at the price of a HDB flat are also happy as it means lesser Sing dollars needed to pay for the property.
And when the border is open again (let's pray for this year) , then flocks of Singaporeans with more ringgits on hand due to good exchange rates will be happy to spend at JB be it watching movies or buying groceries.
It is also possible that the price may hoover around the resistance area for a few months before we see a breakout ! So, patience is needed !
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you can see this consolidation pattern has been playing out for the last 6 months, if support can be sustained at 3.076 level, then we might see a rebound soon.....
Those who are visiting Malaysia will be happy to know that the recent surge in exchange rates favour them. With more money to spend, this will be a good boost to its local tourism market after the long Covid-19 closure.
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It is time to exchange some Ringgit and go shopping in JB
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reaching 4 is no longer a dream.....
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3 months later , we are are closer to reaching 4 dollars mark......haha. Enjoy while it lasts