New S.E.A. Games Records – The SGDMYR, SGDIDR, SGDPHP, SGDTHB
The SGD/MYR has had an amazing run up this round to 2.6227 and we are near the historic high last seen in 1998 of 2.6935. SGD/IDR at a historic high today as is with the SGD/PHP.
It is pretty much the same picture for the rest of the ASEAN.
SGD/MYR since 1981. Current SGD/MYR 2.6229 (historic high 2.6935 in 03/1998)
SGD/IDR at a record high of 9687.97 today (chart since 1991).
SGD/PHP new record high of 35.7877 today (chart since 1991).
SGD/THB since 1990. Current 25.7107 (historic high 31.3571 in 03/1998)
My interest in the exchange rates happened by pure chance because I was working out which country nearby would be best for me to buy a new Ipad mini.
It is ironic that for all the power of the strong SGD policy, we are still one of the most expensive places in the region to buy that confounded Apple device.
Here is the price list for the Ipad mini 128 GB with 3G selling at SGD 1,148 over here.
Thailand THB 24,900 which is SGD 968.50 at SGD/THB 25.71
Malaysia MYR 2,679 which is SGD 1,020.88 at SGD/MYR 2.6242
Philippines PHP 41,990 which is SGD 1,182.99 at SGD/PHP 35.4946
Indonesia only has the 16GB model which is retailing at IDR 5,499,000 which is SGD 580.37 at SGD/IDR 9474.92.
The retail price in Singapore is SGD 728.
Thailand and Malaysia would be the places to go and we shouldn’t skip Indonesia for sure if we don’t mind the 16GB model.
Moral of the story :
The SGD dollar is a Gold medal currency but make sure you spend it offshore.
Back to the exchange rates.
The SGD strength can possibly be explained by the safe haven demand vis a vis her EM/Asean neighbours but records are not set everyday. No doubt this will be soon catch market attention soon and we better buy those ipads before it is too late.