Singaporeans Flock to Malaysia for Bargains as Dollar Hits Record High
- The Singapore dollar has risen to a record 3.55 ringgit
- The question now is when SGD-MYR rate will reach 4: ANZ
Outside a shopping mall in Kuala Lumpur earlier in January.
Photographer: Chong Voon Chung/Xinhua/Getty Images
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Carman Lee is back in Ipoh, her hometown in northwestern Malaysia, after a seven-and-half hour bus ride from Singapore for the upcoming Lunar New Year. The Westin Singapore employee has another reason to celebrate this festive season: an all-time high local dollar that makes everything that much cheaper against the ringgit.
“It’s really going crazy,” Lee said of the exchange rate. “It’s like a bonus — during Chinese New Year we buy soft drinks, beer and invite friends over, and this really helps. You can buy more.”