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":211148,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,117680,184,117676,85,1445,7554,46,117683,117682,114853,117685,31077,117632,117684,88137,117679,117677,117678,19886,7549,117681],"class_list":["post-211147","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-chinas-yuan","tag-economy","tag-hari-raya-eid","tag-il","tag-indonesia","tag-indonesian-rupiah","tag-israel","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\/il\/wp-json\/wp\/v2\/posts\/211147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=211147"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/211147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/211148"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=211147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=211147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=211147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}