31 Aug '15, 3pm

Singapore dollar falls to 6-year low of 1.4128 against the greenback

SINGAPORE: Financial markets in the region have started the new trading week on a choppy note, with key benchmark indices losing ground, making August their worst-performing month in at least three years. Meanwhile, in the forex markets, most Asian currencies lost ground against the greenback. The Singapore dollar dropped to 1.4128 late in Asian trading on Monday (Aug 31), hitting levels last seen in 2009. The Straits Times Index ended 34.50 points, or 1.17 per cent, lower at 2,921.44. Investor sentiment is still weighed down by concerns over the outlook for China and the prospect of higher US interest rates. The yield on 10-year Singapore Government Securities hit 2.85 per cent, the highest in five years. Higher government bond yields usually result in higher interest rates, hurting corporate earnings and slowing economic activity. An analyst said Singapore markets are li...

Full article: http://www.channelnewsasia.com/news/singapore/singapore-d...

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