💱US Dollar/Singapore Dollar FX Spot Rate
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MAS unexpectedly tightened policy by raising the slope of the SGD NEER band, strengthening SGD.
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The Monetary Authority of Singapore, the central bank, tightened monetary policy on the 27th, contrary to market expectations. It slightly increased the rate of appreciation, or slope, of its exchange-rate-based policy band known as the Singapore dollar nominal effective exchange rate. There was no change to the width of the policy band or the level at which it is centred. A Reuters poll of economists had shown a majority expected policy to be held steady.
MAS unexpectedly tightened policy by raising the slope of the SGD NEER band, strengthening SGD.