JOHOR BAHRU, Nov 1 — Despite the Malaysian ringgit surging to its strongest level against the Singapore dollar in over a year, Singaporean visitors say it was not enough to deter them from their regular trips across the Causeway for shopping, dining, and services.
“For me, it doesn’t matter because I don’t spend much here,” said Edmund Lee, a Singaporean finance worker who crosses into Johor Bahru every few weeks for groceries and meals.
Like many others, he feels the “value for money” proposition of Malaysia remains intact, Channel News Asia reported.
This resilience from its most important tourism market is a crucial buffer for Malaysia as it navigates the complex economic impact of its resurgent currency, which is creating a sharp divide between domestic winners and struggling exporters.
The ringgit’s rally has been stark. After sinking to a 26-year low against the US dollar in February 2024, it has bounced back to a one-year high. Against the Singapore dollar, it has strengthened from around RM3.50 in January 2024 to RM3.19 this week.
Lifeline for Johor
