Singapore firms, residents take advantage of falling ringgit
Companies, property owners paying off assets faster with lower forex rate
Published on Feb 17, 2014 8:05 AM
Shoppers, property buyers and companies here with dealings over the Causeway are all counting the gains from the record lows plumbed by Malaysia's ringgit against the Singapore dollar.
For instance, property buyers are looking to pay down ringgit denominated loans faster to capitalise on the exchange rate.
And shoppers, already attracted by the bargains in Johor Baru, are finding their Singdollars going even further now.
The Malaysian currency fell to an all-time low of RM2.6287 against the Singdollar last Monday, following previous record nadirs earlier this month.
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We are linked by a little bridge, and the price difference is so big, plus with the favourable exchange rate, it is another push factor to entice Singaporeans to rent or buy in Iskandar.
- Property agent Germaine Ng