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Singapore refutes US accusation of currency manipulation
MAS says its policy framework has always been aimed at ensuring medium-term price stability
Published Wed, May 29, 2019 · 09:50 PM
Singapore
SINGAPORE "does not and cannot use the exchange rate to gain an export advantage or achieve a current account surplus", the Monetary Authority of Singapore (MAS) said in response to the US Treasury's move to put Singapore on an updated watch list over its "uncommon" exchange rate and its material current account surplus.
Singapore made the semi-annual watch list for the first time after the US Treasury expanded the number of trading partners covered in the report from its top 12 trading partners to 21 trading partners.
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