The Singapore dollar advanced today as the government surprised traders, saying that it will allow the currency to gain. The currency also gained on the general risk-positive sentiment of Forex traders.
Singapore Dollar SGD
Central Bank: Monetary Authority of Singapore
Interest Rate: 0.18%
Public Debt to GDP Ratio, 2011: 118.2%
Trade Balance, 2010: $48 bln.
Inflation, 2011: 5.2%
Fast-growing strong economy
Factors of Weakness
Low-yielding interest rates
The Singapore dollar is the official currency of Singapore. It was adopted when the monetary union between Malaysia, Singapore and Brunei broke down. The Singapore currency was trading at par with the Malaysian ringgit until 1973 and is still interchangeable with the Brunei dollar. The currency was allowed to float in a fixed range since 1985.
Singapore Dollar News Archive
October 12th, 2012 at 13:17
October 21st, 2010 at 13:52
The Singapore dollar rose today on the speculation that the accelerating China’s economic growth would attract the investors to Asia, increasing the appeal of the region’s currencies.
April 14th, 2010 at 12:00
The Singapore dollar experienced the unexpected surge as the government revaluated the currency after the forecast about the widening economy and the increasing inflation.
February 27th, 2010 at 6:37
The Singapore dollar had one of the best weekly performances since the beginning of the year as optimism towards the domestic and regional economies improved, allowing the Singaporean currency to gain towards the weekend.
January 22nd, 2009 at 10:52
The Singapore dollar gained against the U.S. dollar for the second day today as the traders reduced their bets that the monetary authorities are going to use the currency depreciation to stimulate the economy.
November 18th, 2008 at 10:28
Singapore dollar declined for the sixth day against they U.S. dollar today as the country’s monetary authorities will probably use the weak national currency as a stimulus for the export-producing economy.
The Asian currencies fell this week as the oil prices surged and the rising inflation concerns forced foreign investors to cut the inflow of liquidity into this region.
April 26th, 2008 at 10:23
The Singapore currency had its worst week in a year on the Forex market, as it lost along with the other Asian currencies to the U.S. dollar, because the investors began to expect that the U.S. interest rate will unchanged rather than lowered next time.
January 29th, 2008 at 10:53
The Singapore dollar rose today during the Asian Forex trading session as the market analysts expected the Federal Reserve of U.S. to lower the interest rate at the next meeting, widening the rates difference for these two currencies.