The Singapore currency rose 0.2 per cent to 1.3038 per US dollar, its highest since January 2018. After adding its overnight gains, the Singdollar was up about 0.7 per cent since Tuesday. - ST
SINGAPORE (The Straits Times/Asia News Network/Agencies): The Singapore dollar climbed to a more than five-year peak on Thursday (Feb 2) after the United States central bank said it had turned a corner in the fight against inflation, giving markets a confidence boost that the end of its rate hike campaign is near.
The Singapore currency rose 0.2 per cent to 1.3038 per US dollar, its highest since January 2018.
After adding its overnight gains, the Singdollar was up about 0.7 per cent since Tuesday.
The local currency, which has been on an upward trajectory this year due to rising expectations of easing inflation and less aggressive monetary tightening, has gained about 2.7 per cent since ending 2022 at 1.3395 to the greenback.
