Singapore Dollar Trades At Near 4-month Low Against U.S. Dollar On MAS' Comments
February 04 2020 - 8:56PM
RTTF2
The Singapore dollar tumbled against the U.S. dollar in the
Asian session on Wednesday, after Singapore's central bank said
that there is scope for policy easing to counter the outbreak of
the coronavirus.
In a statement, the Monetary Authority of Singapore said that
there was sufficient room within policy band to accommodate easing
of Singapore dollar in line with weakening economy due to
virus.
The Singapore Dollar Nominal Effective Exchange Rate has been
fluctuating near the upper bound of the policy band in recent
months.
The Singapore dollar declined to near a 4-month low of 1.3824
against its American rival, compared to yesterday's closing value
of 1.3701. The Singapore dollar is seen locating support around the
1.41 level.
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