MAS To Allow Faster SGD Appreciation

Singapore's dollar jumped to a 10-year high today after the central bank revealed in its policy statement that it would allow faster SGD appreciation. In light of the news that the Monetary Authority of Singapore (MAS) will 'increase slightly the slope of the S$NEER [Sing Dollar Nominal Effective Exchange Rate] policy band', we have revised up our year-end 2007 and 2008 currency forecasts, to SGD1.46/US$ (from SGD1.48/US$) and SGD1.38/US$ (from SGD1.46/US$) respectively.

To read the full article, please choose one of the following options: