Tuesday 15 November 2016

Ringgit Malaysia(4.33). State of Shock

Is a 1984 hit single for the Jacksons with a little help from Mick Jagger.

The Ringgit, for the second straight day running, has Singapore in a state of shock, as demand for the currency outpaced the supply.

The Singapore Straits Times has the Story. Read Below :

At least four money changers at Change Alley ran out of the Malaysian currency yesterday as people stocked up on the plunging ringgit.

One money changer, who wanted to be known only as Mr Bill, said he was cleaned out within a few hours of opening because he underestimated demand.

Even though the rates on offer yesterday were down on last week, there was still strong demand for the currency. Money changers were offering between 3.01 and 3.03 to one Singdollar - below the 3.05 up for grabs last week.