As the Malaysian ringgit and the
Singapore dollar have depreciated against the U.
The depreciating
Singapore dollar also knocked interbank rates, the rates at which banks lend among themselves, down to 1.
The Indonesian rupiah has plunged nearly 70 percent against the
Singapore dollar between 1997 and 1998, while the Malaysian ringgit sank 26 percent lower than the
Singapore dollar.
The issuance marks the second Sukuk to be denominated in
Singapore Dollar thus far and proceeds from the issuance will be used to fund the purchase of Islamic home financing from the financial system.
BMI Research, a Fitch Ratings company, said, 'We also believe that the
Singapore dollar continues to face broad-based depreciatory pressures that will see it lower over the coming quarters.
The China Foreign Exchange Trading System stated that it will perform direct trading of the Chinese yuan against the
Singapore dollar starting from today.
Foreign banks will have to meet a
Singapore dollar LCR of 100 percent and an all-currency LCR of 50 percent.
5bn) in 2011, was the first Russian entity to tap the
Singapore dollar market in 2010, collecting SGD400m (USD321.
Economists said the upward re-centering of the policy band known as the Nominal Effective Exchange Rate essentially meant an appreciation in the
Singapore dollar.
After trading in a narrow range in the upper 81 yen level in New York, the dollar fell to its lowest level since late April 1995 in Tokyo and hovered there after Singapore's monetary authorities tightened by widening the trading band of the
Singapore dollar.
The MAS made the remark as it announced a further tightening of its policy on the
Singapore dollar, allowing the
Singapore dollar to rise against other currencies, in a bid to curb rising inflation.
Singapore Telecommunications Limited (SingTel) today announced stable net profit of S$870 million in the second quarter ended 30 September 2013, as earnings growth was negatively impacted by the steep appreciation of the
Singapore Dollar.
