The Covid-19 has been the bane of our existence for the last couple of months.
Over 130,000 people have been infected, and nearly 5,000 people have died from the disease.
Many businesses have been affected and the economy is expected to suffer as a result.
Everything’s been doom and gloom for the past weeks, but here’s a little good news, for a change.
SGD to RM is Now at 3.04
The Singapore Dollar rose to a high of RM3.04 on Friday (13 March), up from RM2.97 just a month ago.
Many have attributed the fall in Malaysian currency to political uncertainty and the Covid-19 outbreak.
You may remember that Mahathir Mohamad unexpectedly quit his post as Prime Minister in February, causing political mayhem.
His resignation threw the country into chaos, and broke apart a coalition of parties that ruled the country for less than two years after its surprise win at the 2018 general elections.
Market analyst Han Tan said the uncertainties surrounding the make-up of the new government and its potential policy offerings would only serve to further dampen Malaysian assets that had already been affected by Covid-19 fears.
“The near-term outlook for the ringgit is expected to remain clouded by this confluence of policy and economic uncertainties, as the risk aversion evident in global markets dampens the appeal of most Asian currencies amid the Covid-19 outbreak,” Tan told Bernama.
Reader: Ok ok, you had me at 3.04. Does this mean I should go to JB right now to stock up on toilet paper and eat some delicious food?
Now’s not the best time, actually.
Not a Good Time to Travel
You’re probably aware that the World Health Organisation (WHO) recently declared the Covid-19 outbreak a pandemic.
And Singapore has banned visitors from Italy, France, Germany, and Spain to curb the spread of the disease.
They’ve also introduced new social distancing measures such as cancelling mass gatherings of more than 250 people and encouraging staggered work hours.
So, no, dear reader, now would not be a good time to go to JB for supper. There are more important things life than delicious food.
Reader: Like what?
Uh, I’ll get back to you on that.
But now is perhaps a good time to stockpile ringgit instead of toilet paper.
