Singapore dollar at all-time high against ringgit on policy gap

The Singapore dollar-ringgit pair is gaining attention as both economies have tight trading ties and share one of the busiest land borders in the world. — Bloomberg

SINGAPORE: The island-state’s currency surged to an all-time high against the ringgit as the latter was weighed down by weaker exports and its widening rate differential with the United States.

The Singapore dollar rose as high as 3.4826 versus the ringgit yesterday. That’s because the local dollar was supported by previous rounds of policy tightening.