SGD weakens by almost 100 basis points to USD/SGD 1.3809

Earlier today, Business Times posted a news titled “‘Sufficient room’ for Singdollar to ease amid virus outbreak: MAS”.

This caused a sell off in the SGD currency. The currency dropped from 1.370 to 1.3807 as seen on yahoo fianance.

Singapore’s monetary policy stance remains unchanged, there is room within the current policy band to accommodate another easing, if economic conditions weaken from the coronavirus spread.

This is according to the Monetary Authority of Singapore (MAS), which issued a statement on Wednesday in response to media queries.

It is reckon SGD might weaken to spur the economy as Singapore due to the virus outbreak in Wuhan.

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