Some money changers in Singapore see business boom despite strengthening ringgit

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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. Money changers at Chinatown and Raffles Place were selling ringgit at a rate of 3.29 to 3.295.

Business was still booming for local money changers over the weekend despite the dip in ringgit exchange rates.The exchange rate for Malaysian ringgit has dipped recently, but that hasn't stopped money changers in Singapore from raking it in.

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."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.

 

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