Off to Malaysia via VTL? Ringgit to hold steady against Singdollar, say analysts

SINGAPORE - The new Vaccinated Travel Lane between Singapore and Kuala Lumpur is expected to be well utilised when it opens on Nov 29, and those looking at the Singdollar/Malaysian ringgit exchange rate amid their travel plans can expect the rate to stay relatively stable in the coming months, analysts said.

The ringgit is now trading at 3.08 against the Singapore dollar. It is expected to weaken slightly to 3.10 by year end and remain within that range for the first quarter of next year, according to forecasts by OCBC Bank.