Alvin Tan on performance of Singapore dollar against Malaysia ringgit
The Singapore dollar has appreciated against the Malaysian ringgit at an average rate of 1.3 per cent over 2020 to 2025, said Minister of State for Trade and Industry and Board Member of the Monetary Authority of Singapore (MAS) Alvin Tan in parliament on Friday (Mar 6). In his reply to an MP’s questions, he emphasised that MAS manages the Singapore dollar against a trade-weighted basket of currencies of its major trading partners and not against any bilateral exchange rate. He added that the Singapore dollar trade-weighted exchange rate has been on a gradual appreciating path since October 2021.
The Singapore dollar has appreciated against the Malaysian ringgit at an average rate of 1.3 per cent over 2020 to 2025, said Minister of State for Trade and Industry and Board Member of the Monetary Authority of Singapore (MAS) Alvin Tan in parliament on Friday (Mar 6). In his reply to an MP’s questions, he emphasised that MAS manages the Singapore dollar against a trade-weighted basket of currencies of its major trading partners and not against any bilateral exchange rate. He added that the Singapore dollar trade-weighted exchange rate has been on a gradual appreciating path since October 2021.
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