25 Mar '11, 12am

Sing dollar hits new high against greenback Whatever the Sing$ is smoking, he should stop.

SINGAPORE: The Sing dollar has hit a new high against the US dollar, closing at S$1.2605. This beats the previous record of 1.2633 on Tuesday. In overnight trade, the greenback was quoted as low as 1.2591 - dipping below the 1.26 level for the first time. The strengthening in the Sing dollar comes on the back of a rise in the euro against the greenback. Analysts said there were expectations of an interest rate hike by the European Central Bank, as the money markets braced for a worsening political crisis in Portugal.

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

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