ringgit

OCBC is drawing attention to its Global Savings Account offering denominated in Malaysian ringgit, a product that lets savers hold funds in the currency across borders. The bank's move comes amid ongoing interest from Singapore-based customers in multi-currency savings options and cross-border wealth management between Singapore and Malaysia, where ringgit deposit demand remains a talking point for savers and investors.

OCBC customers in Singapore can hold Malaysian ringgit in their savings accounts from October 23, according to The Straits Times. The move lets savers keep ringgit alongside Singapore dollars in the same account, a notable step for cross-border banking given the volume of travel and trade between Singapore and Malaysia. It is drawing attention as one of the first such offerings from a major Singapore bank.

OCBC customers in Singapore will be able to hold Malaysian ringgit in their savings accounts starting October 23, according to The Straits Times. The move lets savers keep ringgit directly without a separate Malaysian account, drawing attention from people who travel, work or invest across the causeway and those watching the ringgit's exchange rate.

Oversea-Chinese Banking Corporation will allow Singapore-based savings account holders to hold and manage Malaysian ringgit from October 23, according to the Business Times. The move gives customers a way to keep ringgit alongside Singapore dollars without a separate Malaysian account, drawing attention from commuters and businesses with cross-border ties.

The Malaysian ringgit has strengthened against the US dollar after the Federal Reserve signalled a possible shift in its interest rate outlook. Investors read the Fed's messaging as a sign rate cuts may come sooner, weakening the dollar and lifting Asian currencies. Traders are watching upcoming US inflation and employment data for confirmation of the policy turn.