The Malaysian Insider, 31 Mar 2009, Reuters
SINGAPORE, March 31 - Singapore's central bank is likely to allow a modest currency depreciation in coming weeks to help the ailing economy, but has to tread carefully to avoid sparking a domino effect of falling currencies in Asia.
The central bank, whose monetary policy targets the Singapore dollar within a crawling trade-weighted band, has various options to choose from: recentre the band downwards, widen the trading band to give the currency more room to move, or change the slope of the band to allow the unit to move one way or the other more quickly.
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