fbpx
Connect with us

News

Drop in Ringgit Seen as a Blessing to JB Traders as S’poreans are Spending More

Published

My Post 1 2023 05 31T111851.166
Source: SCMP & China Press

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Compared to the Singapore Dollar (SGD), the Malaysian Ringgit (RM) is currently at its lowest value in history, at RM3.4047.

The previous weakest it has been was RM3.4019 in November of last year.

Though, according to a report by Sinar Daily, the drop in our currency isn’t exactly being seen as negative to business owners n Johor, especially in the retail, hospitality, and food and beverage (F&B) industries, due to an economic overflow from Singaporeans.

Johor 2

This image is for illustration purposes only.

The increased value of the SGD has boosted the purchasing power of Singaporeans, currently making Johor a shopping ‘paradise’ for them.

Traders are considering the drop of our RM against SGD a blessing as Singaporeans have flooded to Johor Bahru to spend, spend, spend.

 

F&B traders in Johor have since shared that the decrease in the value of RM has benefitted them. 

Johor 3

This image is for illustration purposes only.

“There are 2 factors that influence Singaporeans to shop in Johor Bahru. First is the currency exchange rate and secondly, the flow of traffic at the 2 entrances here. Singaporeans do not mind shopping here especially as the exchange rate of SGD to Ringgit is favourable to them,” said 63-year-old Zaini Atan, who runs a restaurant.

A nasi lemak shop owner chimed in that he has seen an increase of Singaporeans customers, who order food at his eatery without looking at the prices.

“Money is not an issue for them and they even consider Johor Bahru as a ‘food paradise’. If our currency rate continues to decline, it is not impossible that more Singaporeans will shop here,” shared 49-year-old Md Fauzi Suradi.

 

What do you think? Is the constant decline of our currency a curse or a blessing in disguise?

Do feel free to share your thoughts in the comment section.

 

Also read: Customer Compares RM0.50 Meatballs to IKEA’s & Rants About Price, Gets Schooled by KL Hawker

My Post 1 2023 05 29T102215.421

Source: SCMP
Source: China Press

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Feat Image Israeli Feat Image Israeli
News59 mins ago

BREAKING: PDRM Arrests Israeli National at Hotel in Ampang With 6 Firearms & Around 200 Bullets

The Inspector-General of Police (IGP) Tan Sri Razarudin bin Husain in a press conference today revealed a shocking revelation, whereby...

My Post 1 2024 03 29T161744.904 My Post 1 2024 03 29T161744.904
News4 hours ago

Here is the List of 2023 Tax Reliefs That You Can Benefit From This Year!

Every year, during tax season, the government announces tax reliefs to allow the people to reduce their chargeable income, which...

Feat Image Haniff Najib Wan Ji Feat Image Haniff Najib Wan Ji
News5 hours ago

“For security purposes” – Prominent M’sian Lawyer Says Najib Deserves Different Treatment in Jail

Previously, we shared how a former Kajang Prison inmate Wan Ji claimed that former Prime Minister Datuk Seri Najib Razak...

My Post 1 2024 03 29T144007.779 My Post 1 2024 03 29T144007.779
News6 hours ago

M’sian Mum Bashed for Accusing Foreigners of Attempted Kidnapping & Allowing Her 1YO to Walk Up Spoilt Escalator

Just a couple of days ago, 2 foreign workers were arrested for allegedly attempting to kidnap a 1-year-old child at...

Feat Image Kj Padu Feat Image Kj Padu
News7 hours ago

Khairy Jamaluddin Became Victim of Identity Theft After Someone Used His IC Number to Sign Up for PADU

Registrations for the Central Database Hub (PADU) will be closed this Sunday (31 March) and it looks like the database...

Collage123 2 Collage123 2
News7 hours ago

PETRONAS Earns the Crown of the Strongest Brand in the Oil & Gas Sector Worldwide!

With billions of cars driving on roads all around the world, using petrol is a big part of daily life...

My Post 1 2024 03 29T124131.137 My Post 1 2024 03 29T124131.137
News8 hours ago

“T20 wants to go shopping 1st” – M’sians Outraged by Delay in High-Value Goods Tax

On January 1, 2024, the Malaysian government implemented the Low-Value Goods (LVG) Tax, which imposed a 10% tax on the...

Collage 1 9 Collage 1 9
News9 hours ago

Former Inmate Claims Najib Wears Regular Clothes Like He’s at Home, Prison Dept Responds

It’s been nearly 2 years since Najib Razak went to prison but rumours about his “lifestyle” in prison is still...

Announcement

Latest Videos



TRENDING TODAY