01 Feb '11, 11pm

The S'pore dollar reached a new high, hitting $1.2756 against the US dollar So, who's going shopping?

The currency hit $1.2756 to the greenback during trading on Tuesday after being around $1.28 a week ago. -- ST PHOTO: AZIZ HUSSIN THE Singapore dollar has surged to yet another record high against the US dollar on expectations that the authorities here will do more to fight inflation. The currency hit $1.2756 to the greenback during trading on Tuesday after being around $1.28 a week ago. It has gained more than 9 per cent from its level of $1.41 about six months ago. While it is making life hard for exporters, companies and shoppers that pay for items in US dollars and America-bound tourists are laughing all the way to the bank. Take Apex-Pal International, which runs the Sakae Sushi restaurant chain. It pays for its seafood products in US dollars, but sells its sushi in Singdollars. 'The exchange rate is to our advantage,' said Apex-Pal International chief executive Dougl...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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