The Business Times
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Weakening greenback to boost Singapore firms with US-dollar debt and costs

In the year to date up to May 7, the Singapore currency has appreciated about 5.4% against the US dollar

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Tay Peck Gek

Tay Peck Gek

Published Thu, May 8, 2025 · 04:22 PM
    • Singapore Airlines' hedging policies would result in a negative S$1.6 million impact on its pre-tax profit for every 1 per cent strengthening of the Singapore dollar against the US currency, based on the group’s FY2024 annual report.
    • Singapore Airlines' hedging policies would result in a negative S$1.6 million impact on its pre-tax profit for every 1 per cent strengthening of the Singapore dollar against the US currency, based on the group’s FY2024 annual report. PHOTO: CMG

    [SINGAPORE] Asian currencies have rallied against the US dollar on the back of concerns that US President Donald Trump’s tariff war will hurt the world’s largest economy. But market watchers warn that the Singapore dollar’s strength against the greenback could cut both ways for companies here.

    This week, the Singapore dollar rose to trade at above 1.29 against the greenback for the first time since September 2024.

    In the year to date up to May 7, the Singapore currency has appreciated about 5.4 per cent against the US dollar.

    Singapore AirlinesST EngineeringSATS

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