Hard to find silver lining for EM currencies: Bank of Singapore report
Singapore
LOWER carry cost and the battle against "lowflation" will fuel further weakness in the Singapore dollar (SGD) as well as the Korean won (KRW) and New Taiwan dollar (TWD), said Bank of Singapore in a report on Tuesday.
Given that inflation is well below the central banks' targets and the external outlook remains sluggish, policymakers could introduce more measures to limit the currency strength of these countries, as has happened in recent months, said the report, citing Korea and Thailand's recent move to encourage capital outflow.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters