00:00the ringgit rose to its strongest level versus the singapore dollar in five years
00:04supported by higher energy prices and optimism over artificial intelligence
00:09it strengthened 0.2 percent to 3.0615 on wednesday reaching its highest level since march 2021
00:17bloomberg reported goldman sachs group incorporated strategists including danny suanaputi said the
00:23ringgit should be one of the best performing currencies in asia this year they noted that
00:28disruptions in the strait of hormuz and likely higher liquid natural gas prices position malaysia
00:33well to handle a global energy shock as a net energy exporter malaysia benefits from higher brent oil
00:40prices while net importers like singapore have seen currency pressure the ringgit has also been boosted
00:47by foreign direct investment linked to ai and stronger than expected gross domestic product growth
00:52with the singapore dollar ringgit pair reflecting close trade ties and a busy land border between
00:57the two countries danish rogeresa fmt
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