The ringgit\u2019s surge to a five-year high against the US dollar is prompting Malaysians, especially travellers, to exchange the currency early, keeping money changers busy despite the usual post-festive lull.<\/p>\n
\u201cWe had expected the crowd to decline this week, but it is still at around 70 per cent,\u201d Malaysian Association of Money Services Business president Jajakhan Kader Gani said.<\/p>\n
He said the ringgit\u2019s current level of around 4.04 against the US dollar is among the strongest in recent years, reflecting a gain of about 20 per cent from previous levels near 4.80.<\/p>\n
\u201cThis is what we are seeing in the foreign exchange market now,\u201d he said.<\/p>\n
The Japanese yen, which remains at multiyear lows, continues to see the strongest demand, followed by China\u2019s yuan and Indonesian rupiah.<\/p>\n
Demand for the rupiah remains strong but interest in the Thai baht has slowed due to flooding in southern Thailand and geopolitical concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"The ringgit\u2019s surge to a five-year high against the US dollar is prompting Malaysians, especially travellers, to exchange…\n","protected":false},"author":2,"featured_media":217620,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113054,113,113050,61,1665,113049,60,113057,113056,37934,113059,3292,113048,113058,85849,113053,113051,113052,22107,1097,113055],"class_list":["post-217619","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-chinas-yuan","tag-economy","tag-hari-raya-eid","tag-ie","tag-indonesia","tag-indonesian-rupiah","tag-ireland","tag-jack-yap","tag-jajakhan-kader-gani","tag-japanese-yen","tag-july-to-august-2016","tag-kuala-lumpur","tag-lunar-new-year","tag-malaysian-association-of-money-services-business","tag-malaysians","tag-racheal-kaur","tag-razak-osman","tag-thai-baht","tag-the-star","tag-us-dollar","tag-vietnamese-dong"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/217619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=217619"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/217619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/217620"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=217619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=217619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=217619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}