GLOBAL financial news and information source Bloomberg has urged travelers to visit Malaysia by pointing out the depreciating Ringgit, which increases travelers’ purchasing power.
Many Singaporeans are “crossing the border,“ according to the article’s foreign media sources, to benefit from the “unprecedented strength of the Singapore dollar against the Ringgit.”
“Travelers from further afield are increasingly exploring Malaysia’s numerous attractions.” it wrote.
It also noted the Ringgit’s poor year-over-year performance vs the US dollar and how it dropped to its lowest level ever versus the Singapore dollar.
Furthermore, agency Intrepid Travel further recorded a 15% increase in reservations to the country this year.
PM Anwar Ibrahim responded to the weak Ringgit by stressing that the government is actively addressing the drop of the currency and providing assurances that the nation’s investment figures are protected, demonstrating that the matter is not being disregarded or treated lightly.
