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Singapore refutes currency manipulation accusation

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MAS manages the Singapore dollar nominal effective exchange rate (S$NEER) within a policy band, which is "just as other central banks conduct monetary policy by targeting interest rates".

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Singapore also, by the US Treasury's assessment, runs a "persistent, one-sided intervention in foreign exchange markets" over a six-month period. The US Treasury estimated that in 2018, Singapore made net foreign exchange purchases of at least US$17 billion, which is...

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