Singapore’s FinMin Heng: SGD exchange rate has sufficient band to move as appropriate
|In an interview with Bloomberg TV on Wednesday, Singapore’s Finance Minister Heng said that the Singapore dollar (SGD) exchange rate has sufficient band to move as appropriate.
China has taken decisive measures to deal with the virus outbreak, he added.
On Tuesday, Heng announced a 5.6 billion Singapore dollars ($4.02 billion) budget in the coming year to help businesses and households tide through the ongoing coronavirus outbreak.
He also announced a delay in the planned a raise in the goods and services tax.
FX Implications
The Singapore dollar saw a fresh buying wave on the above comments, knocking-off USD/SGD to a fresh daily low of 1.3912, where it now wavers.
The pair faces rejection near 1.3930 region for the fourth straight session on Wednesday, as the US dollar retreat from multi-month peaks across its main peers.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.