Over the past month, the Singapore dollar has strengthened from the 1.43 level to 1.41 against the greenback.
On Tuesday, the ringgit closed lower at 4.73 against the greenback from Monday’s close of 4.72 ahead of theThis week, economists anticipate the US central bank to raise interest rates aggressively by three quarters of a percentage point, laying the ground to reach 5 per cent by March next year, in order to rein in inflation.
This, coupled with rising interest rates and stronger economic growth in the US, will strengthen the greenback and, in turn, weaken the ringgit.
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