Ringgit falls 0.2% to 10-month low against Singapore dollar令吉兑新加坡元下跌0.2%，至10个月低点
If you're looking to stretch your dollar a little bit further, now might be the time to cross the Causeway.Ringgit fell 0.2 per cent on Wednesday (Sept 9) to 3.2162, marking a 10-month low against the Singapore dollar, Bloomberg reported.Bloomberg quoted Wee Khoon Chong, a senior market strategist for Asia-Pacific at BNY in Hong Kong, as saying that the Singapore...
If you're looking to stretch your dollar a little bit further, now might be the time to cross the Causeway.
Ringgit fell 0.2 per cent on Wednesday (Sept 9) to 3.2162, marking a 10-month low against the Singapore dollar, Bloomberg reported.
Bloomberg quoted Wee Khoon Chong, a senior market strategist for Asia-Pacific at BNY in Hong Kong, as saying that the Singapore dollar will likely remain strong against the ringgit, adding that investors may see the Singapore dollar as a safer place to park their money.
The moves reflect the "relative advantage of the Singapore dollar over an equally supportive ringgit", Wee stated.
Following Malaysian Prime Minister Anwar Ibrahim's restoration of subsidised fuel quotas amid rising prices for energy, investors have also been proceeding with caution, Bloomberg reported.
Head of FX research and strategy at Maybank Saktiandi Supaat told The Business Times that the Singapore dollar's strength is largely anchored by the Monetary Authority of Singapore's exchange-rate framework.
Strength in major currencies such as the yen, combined with positive sentiment towards Singapore equities, has provided additional support, he added.
The ringgit had strengthened following the ASEAN Summit in October last year that was hosted by Malaysia, senior currency economist at DBS Philip Wee also shared with The Business Times.
However, he warned that the ringgit could weaken further against the Singapore dollar if the Federal Reserve System raises rates as markets expect, should the Middle East conflict result in crude oil prices going back above US$100 a barrel.
khooyihang@asiaone.com
如果你想让你的钱花得更值，现在可能是穿越堤道的最佳时机。
据彭博社报道，林吉特周三（9月9日）下跌0.2%，至3.2162，创下10个月以来对新加坡元汇率的最低点。
彭博社援引纽约银行（BNY）驻香港亚太区高级市场策略师魏坤忠（Wee Khoon Chong）的话说，新加坡元兑令吉汇率可能会继续走强，并补充说，投资者可能会将新加坡元视为更安全的资金存放地。
魏家祥表示，这些举措反映了“新加坡元相对于同样具有支撑作用的令吉的相对优势”。
据彭博社报道，在马来西亚总理安瓦尔·易卜拉欣恢复燃油补贴配额以应对能源价格上涨之后，投资者也一直保持谨慎态度。
马来亚银行外汇研究与策略主管萨克蒂安迪·苏帕特告诉《商业时报》，新加坡元的强势很大程度上是由新加坡金融管理局的汇率框架所支撑的。
他补充说，日元等主要货币走强，加上市场对新加坡股市的积极情绪，都提供了额外的支撑。
星展银行高级货币经济学家Philip Wee也向《商业时报》表示，去年10月马来西亚主办的东盟峰会之后，令吉走强。
然而，他警告说，如果中东冲突导致原油价格重回每桶 100 美元以上，而美联储如市场预期般加息，那么令吉兑新加坡元可能会进一步走弱。
khooyihang@asiaone.com