Singapore: An Island Of Calm Amid Currency TurmoilBy
Singapore, the tiny island state with huge economic clout, is unlikely to suffer much from the currency woes of its neighbors in the Association of Southeast Asian Nations (ASEAN). Since Thailand floated the baht on July 2, it has dropped 30% vs. the U.S. dollar, with the Indonesian rupiah and the Philippine peso down 21% and the Malaysian ringgit off 20%. The Singapore dollar has fallen 7%.
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