Singapore dollar seen sliding on slowing growth

Set to weaken: The currency may ‘scream its way’ to weaker than S$1.40 per US dollar if MAS adjusts its bias to zero, according to an analyst.

Singapore: Singapore’s dollar is set to weaken because the central bank is likely to scrap its appreciation bias at a policy meeting next week, according to a growing group of forecasters.

Mizuho Bank Ltd and Societe Generale SA are defying consensus by predicting the Monetary Authority of Singapore (MAS) will adjust the slope of its nominal-effective-exchange-rate policy band to zero, from 1%, to counter slowing economic growth.