Singapore dollar hits all-time high against Malaysian ringgit

The Singapore dollar continued its rise against the Malaysian currency, reaching an all-time high against the ringgit.

The Singapore dollar reached a record high of RM3.1964 on Monday (May 23), largely due to strength in the Singdollar, beofre easing to RM 3.1950 later in the day.

There wasn't one individual headline catching event, but instead the technicalities of Singapore's monetary policy that created this all-time high.

Singaporehas pursued a more aggresive monetary policy by appreciating the Singdollar at a faster pace and at a higher level.