09 Feb '11, 1pm

Sing dollar expected to strengthen

Sing dollar expected to strengthen

SINGAPORE : The Singapore dollar, which has risen 11 per cent in the past one year, can climb even higher. Analysts said it could reach 1.20 against the US dollar by the end of this year. For some exporters, it is a problem. In a survey by the Singapore Business Federation, 52 per cent of Singapore companies have cited the stronger currency as a challenge this year. But market watchers said the Monetary Authority of Singapore's (MAS) top priority is to tame inflation. And to do that, the central bank may allow for faster appreciation of the Singapore dollar when it reviews its monetary policy in April. Last year, the MAS allowed the Singapore dollar to appreciate at a rapid clip to pre-empt rising inflation. With inflationary pressures in Asia continuing to mount, the MAS and other central banks are seen maintaining a hawkish stance, which means higher interest rates as we...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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