The Singapore dollar hit an all-time high against the Malaysian ringgit yesterday (May 23), Channel News Asia (CNA) reported.

The Singapore dollar reached a record high of RM3.1964 at 1.48pm yesterday, largely due to strength in the Singapore dollar, before easing to RM3.1950 later in the day, the news portal said, quoting MonFX’s head of FX analysis, Simon Harvey.

"There wasn’t one individual headline-catching event, but instead the technicalities of Singapore’s monetary policy that created...