Wednesday, June 10, 2015

Currency Exchange Rate - Singapore Dollar (SGD) vs Mallaysian Ringgit (MYR) And My Regret

Beautiful view of Singapore's colorful skyline from Marina Barrage at dusk. (Pic taken by papaja2008 from

The second time when I toured the Republic of Singapore with my classmates 41 years ago, I could get one Singapore Dollar for every Malaysian Ringgit at a money changer.

I worked as an Engineer for Italian and American multinational companies in the city state for 8 years before I returned for good 20 years ago. On hindsight, my returning to my home country was one of the biggest mistakes I had ever made in my life. On the very last day of leaving Singapore, the Ringgit was traded at around RM2.20 to the Singapore Dollar .

With my mom and niece by the Singapore river in 1990
At the time of writing, the Malaysian Ringgit has plunged to an all-time historical low against the Singapore Dollar; i.e. RM2.75 to the Singapore Dollar. Look at this transactions at a money changer:

The left was a receipt dated today (June 10th, 2015) and the right dated 4 days ago.

I urge those Malaysians who are holding Singapore professional passes and Singapore permanent residents not to return to your home country, which I think is hopeless. Stay put and bring up your family in this clean, prosperous, very well-managed, corruption-free and technically-advanced country called Singapore.

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