SGD

[winston]

S'pore dollar 1.35/USD end-2010: MAS poll

SINGAPORE - The Singapore dollar is expected to strengthen to 1.350 against the US dollar by the end of next year, compared with a forecast 1.382 by the end of 2009, a central bank survey showed on Wednesday.

Singapore's economy is forecast to grow 5.5 per cent next year, versus expectations of a 2.0 per cent contraction this year. Singapore's economy is forecast to grow 5.5 per cent next year, versus expectations of a 2.0 per cent contraction this year, as the trade-dependent republic rebounds from its worst recession, the survey of 20 private economists said.

Economists have lifted their expectations for growth and inflation next year, which may spur the central bank to tighten monetary policy at its next review meeting in April, by allowing its currency to gradually strengthen.

The Singapore dollar, which the central bank uses as its main policy tool by managing its exchange rate against a secret trade-weighted basket of currencies, was trading at 1.3932 against the US dollar by 0400 GMT, after having gained more than 3 per cent this year.

The survey showed the consumer price index rising 2.8 per cent in 2010, after a forecast 0.3 per cent increase this year, in line with the government's 2010 forecast of a rise in the consumer price index of between 2.5 per cent to 3.5 per cent.

( Are the cost of the goods and services that you're using increasing at 2.8% a year ? )

Gross domestic product was seen growing 4.7 per cent in the fourth quarter from a year ago, the survey said, versus actual 0.6 per cent annual growth in the third quarter when the economy returned to growth after three quarters of annual contractions.

The government has forecast 2010 GDP growth of between 3 to 5 per cent. -- REUTERS

http://www.businesstimes.com.sg/sub/lat ... 22,00.html?

[kennynah]

i'm hard pressed to find a $2 a plate chicken rice these days.... even wanton noodles are at least $2.5 now...

imho, it is not good to maintain a strong SGD, in especially when we are surrounded by very weak currencies; RM, Rupiah and Baht... and even RMB, which has weakened to ~4.91RMB/SGD.... we will end up with Trade Deficits which will force the authorities to raise more taxations eventually...

[winston]

My gut tells me that maybe the strong Sin$ may last till after the GE, as long as there's no second dip before then.

[kennynah]

what's GE ?

[Musicwhiz]

what's GE ?

General Election

[kennynah]

what's that?

[LenaHuat]

If U live in Potong Pasir, U will know . Does any1 think Chiam's wife will stand in PP? She's now the party secretary.

[kennynah]

unfortunately, i dont live in PP...nor another of the 25% population township where election take place... thus, to me...what is GE...nothing but a public holiday....a sore reminder of that i'm unable to perform my duty as a citizen

[iam802]

Just found out that SGD has weakened against the Ringgit.

Any idea what causes it?

[kennynah]

Actually, RM has been steadily strengthening against sgd since mid 2009. I recall it was 2.44 back then. Now it's 2.32

I can only suspect that M'sia is back in force with their infrastructural projects