MAS ready to intervene to curb SGD volatility

Singapore

THE Monetary Authority of Singapore (MAS) said on Friday it is ready to intervene to curb excessive volatility in the Singdollar as Trumpflation fears hit regional currencies. The SGD has fallen as much as 2.2 per cent to S$1.42 against the US dollar since Wednesday on worries the next US president, Donald Trump, will turn protectionist.

MAS said the S$NEER (Singapore dollar nominal effective exchange rate) remains well within its policy band, notwithstanding increased volatility in international foreign-exchange markets over the last few days. "Domestic money markets continue to function normally and there is ample liquidity in the system," it said.