Singapore Dollar Falls To Near 4-1/2-year Low Against U.S. Dollar
January 28 2015 - 12:18AM
RTTF2
The Singapore dollar weakened against the U.S. dollar in the
Asian session on Wednesday after Singapore's central bank
unexpectedly eased its monetary policy and downgraded its inflation
forecast, citing lower oil prices.
At an unscheduled meeting, the Monetary Authority of Singapore
(MAS) said it will continue with the policy of a modest and gradual
appreciation of the Singapore dollar nominal effective exchange
rate (S$NEER) policy band but the slope of the band will be
reduced.
MAS also cut the inflation forecast for 2015, predicting prices
may fall as much as 0.5 percent. Against the greenback, the
Singapore dollar fell to nearly a 4-1/2-year low of 1.3563 from
yesterday's closing quote of 1.3385 and held steady thereafter.
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