Bloomberg.com, 25 Mar 2009, Patricia Lui
March 25 (Bloomberg) -- Singapore’s central bank will “re- center” the trading band for the local dollar to allow a one-off depreciation at a twice-yearly review next month to attest a slump in exports, says DBS Group Holdings Inc.
Singapore’s dollar will decline 3 percent to S$1.56 to the U.S. currency by the end of June from a spot rate of S$1.5135 as of 4:13 p.m. local time, Philip Wee, a Singapore-based senior foreign-exchange economist at Southeast Asia’s largest bank, wrote in a research note today.
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