Singapore Dollar Tumbles After MAS Flags Scope for Decline
- MAS says ‘sufficient room’ for easing in currency band
- Central bank remains on track to review policy in April
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Singapore’s central bank said there’s room within its exchange-rate band to accommodate some weakness in the currency to counter the coronavirus outbreak. The local dollar slid to a four-month low as traders boosted bets for an easing.
The currency, which is maintained in a band against a basket of peers, has been fluctuating near the upper end of its boundary since October and could track lower, the Monetary Authority of Singapore said in a statement Wednesday. It maintained its policy outlook and said it’ll meet in April, as scheduled.