04 Mar '11, 3am

Sing$ hits new high against US dollar

Sing$ hits new high against US dollar

The Singapore dollar has powered further ahead in its long winning streak, hitting yet another high against the US dollar, just a month after the last record. -- ST PHOTO: AZIZ HUSSIN PEOPLE here planning a US holiday or doing some online shopping in US dollars just got another welcome boost to their personal bottom line. The Singapore dollar has powered further ahead in its long winning streak, hitting yet another high against the US dollar, just a month after the last record. The latest peak results from a combination of a weakening greenback and expectations of an even stronger Singdollar. Currency traders expect the authorities here to tighten monetary policy - managed through the exchange rate - in order to combat inflation. A stronger Singdollar lowers the cost of imports, thus reducing inflation. At the same time, the US currency is sliding even further amid renewed...

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

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