03 Mar '11, 10pm

Good news for those heading overseas: Singapore dollar is at an all-time high

SINGAPORE - The Singapore dollar rose to a new record of S$1.2678 against the US dollar yesterday before retreating slightly. Analysts said the local dollar would likely trade even higher as concerns over inflation prompt the Monetary Authority of Singapore (MAS) to tighten policy again in April. However, they added the local currency may not strengthen as much as it did last year, when it rose 9 per cent against the greenback. Asian currencies continue to trend higher as the US dollar weakens. Factors contributing to the greenback's slide included the policy meeting of the European Central Bank yesterday, where it was expected to step up its anti-inflation rhetoric and even signal the withdrawal of some crisis measures soon. Meanwhile, across the Atlantic, United States Federal Reserve chairman Ben Bernanke indicated in Congressional testimony that the central bank would ...

Full article: http://www.todayonline.com/Business/EDC110304-0000273/Spo...

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