The MAS, which reviews policy twice-yearly and will publish its next statement in April, manages the
Singapore dollar in a secret trade-weighted band against a basket of currencies, instead of setting interest rates.
The
Singapore dollar weakened to 1.677 against the US dollar recently.
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.
New Delhi [India], Oct 10 ( ANI ): The National Investigation Agency on Tuesday conducted searches at 15 locations in Jharkhand and West Bengal in connection with Left Wing Extremism (LWE) terror funding case and seized cash worth Rs 68 lakh, besides 10,000
Singapore dollar and 1300 US dollar along with Rs.
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.
The agency however noted that uncertainty over the Federal Reserve's interest rate policy could affect
Singapore dollar's peer currencies.
The
Singapore dollar has appreciated from 1.80 in 2002 to 1.22 now.
VTB, which earlier unveiled plans to borrow about USD5bn (EUR3.5bn) in 2011, was the first Russian entity to tap the
Singapore dollar market in 2010, collecting SGD400m (USD321.2m/EUR227m)
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.
It eased against the
Singapore dollar to 2.9632/9657 from Monday's 2.9600/9634 and depreciated versus the yen to 3.5897/5934 from 3.5469/5502 previously.