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Singapore to rein in tts Dollar

Posted on 08 May 2009

From WSJ: Singapore is ready to intervene in the currency market to brake the local dollar’s rise, a person familiar with the situation said Thursday, while the central bank reaffirmed there is no change in its policy for the currency.

The Monetary Authority of Singapore will buy the U.S. dollar “if it falls below S$1.4700, around S$1.4690,” the person said. He said 1.47 Singapore dollars to the U.S. dollar roughly equates with the strong end of the undisclosed trade-weighted band that the MAS uses to guide the Singapore currency…….Full Article: Source


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