Malaysian working in Singapore? How has the exchange rate been impacting the pay?

Malaysian working in Singapore? How has the exchange rate been impacting the pay?

When currency fluctuates, value of money changes too

In April 2015, the exchange rate was S$1 to RM3.37 and today, it’s S$1 to RM3.15. If we assume this person used to earn S$5,000 in 2025, within 8 months, his salary converted into RM is as below.

S$5,000 x 3.36 = RM16,800

S$5,000 x 3.15 = RM15,750

Difference is RM1,050 per month or every year, if the exchange rate stays the same, the person would earn RM12,600 less. If the exchange rate goes back to the April 2025 rate, then the person would not lose the amount as above. Of course, if the person earns a higher income than S$5,000 per month then the impact is higher.

Still at 3.15 times higher yeah, not like 2021

Take a look below. In Jan 2021, it was as low as S$1 to RM3.04 when it comes to exchange rate. So, actually, the current rate has been positive for Malaysians earning S$. As a Malaysian working in Malaysia, I would not want the Ringgit to continue depreciating too. I also wish the Ringgit will keep appreciating too so that I too can enjoy the benefits of having a stronger currency when I travel. Just like the ones who have been earning S$ and always come to JB and always say cheap, cheap and cheap.

Happy earning more. Happy saving more. Happy investing more. Then, at least the currency exchange fluctuation will not impact that much.

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