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The exchange rate for Malaysian ringgit has dipped recently, but that hasn't stopped money changers in Singapore from raking it in. Over the weekend, the ringgit was trading at between RM3.28 and RM3.30 per Singapore dollar, reported Shin Min Daily News. MoSome money changers in Singapore see business boom despite strengthening ringgit
The exchange rate for Malaysian ringgit has dipped recently, but that hasn't stopped money changers in Singapore from raking it in. Over the weekend, the ringgit was trading at between RM3.28 and RM3.30 per Singapore dollar, reported Shin Min Daily News. Money changers at Chinatown and Raffles Place were selling ringgit at a rate of 3.29 to 3.295. As of Monday (Sept 2), the exchange rate is RM3.31 to S$1. Huang Suzhen, a partner of Crante Money Changer at People's Park, told the Chinese daily that she did not notice a drop in business despite the stronger ringgit. She attributed it to Malaysia's National Day (Aug 31) as well as the September school holidays. «People will start exchanging money closer to the holiday period. I started stocking up on ringgit last Wednesday and Thursday, and I managed to sell 30 per cent more ringgit than usual,» she said. «I'm selling about RM30,000 to RM 40,000 every day.» Read more