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Thread: Anyone in the currency field?

  1. #1

    Default Anyone in the currency field?

    Heard there will be a S$ depreciation very, very soon ..... true?
    always the Light, .... always.

  2. #2
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    Default Re: Anyone in the currency field?

    Quote Originally Posted by Canonised View Post
    Heard there will be a S$ depreciation very, very soon ..... true?
    Heard the chen-hu(gov) said so last week to help the port.
    Last edited by longkangman; 14th April 2009 at 02:01 PM.

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    Default Re: Anyone in the currency field?

    I think they didnt say to depreciate S$, but say to set a lower trading band. The objective should be to depreciate S$ to make our export become more attractive I guess.
    Last edited by Astin; 14th April 2009 at 02:25 PM.

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    Member pat33's Avatar
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    Default Re: Anyone in the currency field?

    Quote Originally Posted by Canonised View Post
    Heard there will be a S$ depreciation very, very soon ..... true?
    This has been going on for a while since the financial crisis, if you have been tracking lens prices especially on us websites you would have noticed that the us/sgd rates has gone from below 1.40 to the current 1.50-1.55 range and for those checking HK lens prices the exchange rates from close to 5.5 to the current 5.1 ish. Some other currencies like the aussie and the korean won have however suffered a significant larger amount of depreciation. Aussie for example have gone from 1 aud to 1.25 sgd to the current level of around par ie 1:1 or there about. Hope this helps, if you want technical details and official stuff, I am sure you can find them on the MAS website.
    Last edited by pat33; 14th April 2009 at 03:50 PM.
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  5. #5

    Default Re: Anyone in the currency field?

    Quote Originally Posted by Astin View Post
    I think they didnt say to depreciate S$, but say to set a lower trading band. The objective should be to depreciate S$ to make our export become more attractive I guess.
    it looks obvious that S$ will be weaker soon ...

    So if my friend got close to a million Euro to settle in 30 days time (credit term), should he book the Euro rate now or hope for a weaker Euro in a month time?
    It was about 1.93 not too long ago and now it about 2.01 ....
    Last edited by Canonised; 14th April 2009 at 05:05 PM.
    always the Light, .... always.

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    Senior Member StrifeYun's Avatar
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    Default Re: Anyone in the currency field?

    ... so i heard hmmm
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    Senior Member azul123's Avatar
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    Default Re: Anyone in the currency field?

    Reported in CNBC.

    ../azul123

  8. #8
    Senior Member azul123's Avatar
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    Default Re: Anyone in the currency field?

    Here's the CNBC link on the report.

    Singapore Devalues Currency After Record GDP Fall.

    ../azul123

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