S'pore dollar one of the strongest currencies in world: expert

[melvin]

By Yvonne Cheong, Channel NewsAsia | Posted: 05 July 2007 1931 hrs

SINGAPORE : The Singapore dollar is among the strongest currencies in the world and worth investing in, said investment guru Jim Rogers, who co-founded the Quantum Fund with billionaire George Soros.

The pair built the Quantum Fund into one of the first and most successful hedge funds in the world.

He was speaking at the Nomura Asian Equity Forum on Thursday.

Nicknamed the "Indiana Jones of Finance", Rogers grabbed the attention of his audience by opening his speech with his Guinness Record trip around the world with his wife, after retiring at age 37.

Rogers also took the audience round the investing world, pointing west towards a depreciating US currency, which he believes may lose its status as the world's reserve currency to the Chinese renminbi.

He said the US economy is out of control, with a debt growing by US$1 trillion every 15 months.

The investment guru listed the Singapore currency among the strongest in the world, but cautioned that the current stock market may be a bit pricey.

He is, however, big on China.

"I own tourism, agriculture and power generation; I own a lot of Chinese shares, a big basket. I own all the water stocks I can find in China, and I own the ports and airlines in China because it's partly to do with tourism. I own a lot of stocks in China, I'm very keen on China," said Rogers.

That said, he also warned that should the Chinese stock market double or triple by year-end, the bubble might burst and prices might drop by 40 or 50 percent.

More than 400 investment professionals were present at the Nomura Equity Forum, which ends on Friday. - CNA /ls

:bigeyes: Surprise got people say S'pore dollar one of the strongest currencies!:think:

 

[Sion]

:bigeyes: Surprise got people say S'pore dollar one of the strongest currencies!:think:

"Earn in Singapore,
Spend in Malaysia."

That's what the Johorians say.

 

[yyD70S]

It's strong indeed... but currently lagging the high yielders.

 

[melvin]

"Earn in Singapore,
Spend in Malaysia."

That's what the Johorians say.

Thats why they mark up their price specailly for people who cross border to buy buy buy:bsmilie:

 

[Del_CtrlnoAlt]

"Earn in Singapore,
Spend in Malaysia."

That's what the Johorians say.

ya, now also go in there get slashed, rob & ahemed...

 

[Klose]

Strong against USD for sure

 

[raincool2005]

"Earn in Singapore,
Spend in Malaysia."

That's what the Johorians say.

i feel that we should impose higher taxes for johorians working in sg since they are given opporunities to earn a strong dollar across the causeway. :think: and then channel the revenue to our social welfare... maybe i should suggest this to govt.

 

[jsbn]

Read: "One of the"

Compared to Pound and European Markets which has a relatively long history, still has some way to go.

 

[swampthing]

He was presenting here. What do you expect him to say?

 

[Darrell]

SG dollar is v stable.

 

[garou12]

SG dollar is v stable.

yup its almost back to the same level against the US$ before the Asian financial crisis. I don't entirely subscribe to what the guy said but i agree with what he said about the US$'s declining value.

 

[jsbn]

He was presenting here. What do you expect him to say?

So what do you want him to say den?

 

[melvin]

Read: "One of the"

Compared to Pound and European Markets which has a relatively long history, still has some way to go.

If u compared kuwaiti dinar to sing it will be 1 kuwaiti dinar is to 5.27 sing dollars

 

[jsbn]

Black Gold my friend.....

If we have that much of a black gold and natural reserves like in the middle east, woo hoo~~~~

We are surviving primarily on trade.

 

[melvin]

Black Gold my friend.....

If we have that much of a black gold and natural reserves like in the middle east, woo hoo~~~~

We are surviving primarily on trade.

:think: .....We can go trade Black Gold;p

 

[raincool2005]

He was presenting here. What do you expect him to say?

he also said.. correction in stock market is coming. :bsmilie:

 

[melvin]

he also said.. correction in stock market is coming. :bsmilie:

According to him it will correct when the bear hits mainland!

 

[raincool2005]

According to him it will correct when the bear hits mainland!

anyway i had took profits, reducing holdings... so many aunties are dabbling stocks, it is a sign of bears to come. :sweat:

 

[jsbn]

According to him it will correct when the bear hits mainland!

Probably not now. Bears hitting mainland now would reflect badly on them during '08 Olympics.

Probably after that I guess.

 

[yanyewkay]

"Earn in Singapore,
Spend in Malaysia."

That's what the Johorians say.

Earn in sg.. spend in cambodia or thailand!!! BE A KING THERE!!