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Singapore dollar at 10-month low after 2016 GDP, exports forecasts downgraded

Thursday, November 24, 2016 - 09:46

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Singapore's dollar hit a 10-month low on Thursday after the city state downgraded its forecasts for the trade-reliant economy's growth and exports for this year, while the US dollar was also broadly strong in global markets.

[SINGAPORE] Singapore's dollar hit a 10-month low on Thursday after the city state downgraded its forecasts for the trade-reliant economy's growth and exports for this year, while the US dollar was also broadly strong in global markets.

The Singapore dollar fell 0.3 per cent to 1.4362 per the US dollar, its weakest since Jan 21.

Earlier, the city-state downgraded its forecasts on economic growth and exports for 2016 after confirming a contraction in output in the third quarter amid fresh uncertainty around global trade under US President-elect Donald Trump.

REUTERS

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