Weak ringgit: What benefit, ask Malaysians in Singapore

KUALA LUMPUR: The weakening of the ringgit has not just set off alarm bells across the country but also across the Causeway.

Some Malaysians who either live or work in Singapore shared that they were not experiencing any benefit or unexpected windfall from the worrisome slide in value of the currency.

Coco Rae, a producer who has worked for over a decade in the island republic's advertising industry, expressed mixed feelings on the matter.

"Since I live and work in Singapore, the weakening of the ringgit has not had much of an impact for me over here, as my salary is paid in Singapore dollars.

"But I am concerned about what's going on back home, where the people are struggling to cope with the massive inflation.

"The weakening of the ringgit, however, has allowed me to stretch my money a little bit more and every bit does help. This is because I have a lot of commitments in Malaysia that I have to take care of."

Malaysian and former teacher Bea Lee, 46, just moved to Singapore recently to be with her husband.

"I came to Singapore because my dear husband is here and we did not want to live apart from each other. Circumstances dictated that I move here instead of him living with me in Malaysia, and finances and earnings were the deciding factors.

"As a Malaysian, I am worried to see the ringgit drop in value. But personally it has somewhat benefitted me in a way as my family get slightly more money from what I send to them on a monthly basis. But according to my elderly mother, she keeps telling me that thanks to the inflation, prices of just about everything have gone up."

Edwin Lim, 43, a manager in the securities sector from Johor Baru, said the decline in ringgit had not adversely affected his household, but the pinch could still be felt.

"I came to work in Singapore simply because I could earn more money here. What's happening with the currencies has not had much of an impact on me, as even though I earn in Singapore dollars and the currency has managed to hold up in terms of value.

"My family and I still live in Malaysia and mind you the pinch from the unwanted inflation can be felt, even by those like me, so I don't think we are reaping any rewards or benefits if you ask me."

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