Singaporeans who frequently make the journey across the Causeway for a bit of shopping would be glad to know that the Singapore Dollar (SGD) has hit a record high against the Malaysian Ringgit (MYR).
On Thursday (21 Apr), the SGD/MYR exchange rate reportedly hit a five-year high of 3.1511.
Source: XE.com
With borders reopened again, this might well be a good opportunity to join the queues at the money exchanges to prep for our long-awaited trips across the Causeway.
According to Shin Min Daily News, the SGD/MYR currency pair hit a 5-year high of 3.15 on Thursday (21 Apr).
The increase was apparently due to MAS adjustments on the SGD while the MYR remained relatively stable.
The appreciation of the SGD lines up almost perfectly with the easing of border measures between Singapore and Malaysia.
So perhaps it might be wise to ‘strike’ while the iron is hot before the exchange rate dips.
After two long years of the pandemic, much has changed in Johor Bahru (JB), so much so that it might become unrecognisable for returning Singaporeans.
One popular destination that might interest Singaporeans is the Johor Premium Outlets (JPO), a hotspot for all things branded but at a heavily discounted price.
During the pandemic, designer brands like Balenciaga, Valentino, Fendi, and Jimmy Choo were added to their roster of stores.
Source: Facebook
The discount paradise now boasts 150 stores, several of which have undergone substantial facelifts. Here’s a preview of what JPO looks like now:
Given the ideal exchange rate, perhaps now’s the best time to snag the luxury bag you’re been eyeing.
For Singaporeans eyeing a trip to Malaysia, this is certainly music to their ears and perhaps the final push for them to finally make their way across the Causeway.
If you know anyone who remains on the fence about visiting Malaysia, tag them in the comments and who knows, they might be the ones who’ll jio-ing you instead.
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from k.hartman on Flickr and Google Maps.
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