Singapore not aiming for Singdollar to be reserve currency: MAS’ Chia Der Jiun
It has safe‑haven appeal and other attributes of a reserve currency, but lacks scale, analysts say
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[SINGAPORE] The Monetary Authority of Singapore (MAS) does not seek for the Singapore dollar to become a reserve currency, said its managing director Chia Der Jiun.
The Singdollar lacks important attributes of reserve currencies, Chia said in an interview with The Business Times ahead of the Singapore Fintech Festival happening from Nov 12 to 14.
Analysts also noted that Singapore does not want to internationalise its currency to maintain control over its exchange rate-focused monetary framework.
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