Bloomberg.com, 17 Mar 2009, Patricia Lui
March 17 (Bloomberg) -- Investors should sell Singapore’s dollar against the Indian rupee as the city-state’s exports collapse, while domestic consumers bolster demand in the world’s second most-populous nation, Standard Chartered Plc said.
Singapore’s economy “will be hard hit by the global recession” as overseas sales are equivalent to 191 percent of gross domestic product, Thomas Harr, a Singapore-based currency strategist for the U.K.’s second-largest bank by market value, wrote in a research note yesterday. In comparison, India is “much less vulnerable” as shipments account for only 15 percent of GDP, he wrote. Exports minus imports are a component of GDP.
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