The Singaporean currency (SGD) is trading against the USD at its strongest level in almost a decade, touching new highs in recent weeks amid lower US interest rates coupled with investors' confidence in its resilient economy.
Singapore dollar hits 10-year high (Photo: remitly.com)
Singapore (VNA) – The Singaporean currency (SGD) is trading against the USD at its strongest level in almost a decade, touching new highs in recent weeks amid lower US interest rates coupled with investors' coꦏnfidence in its resilient economy.
The Monetary Authority of Singapore (MAS) is expected to keep a tight policy setting relative to the US Federal Reserve in the near term, enticing investors seeking higher yield. The SGD now ranks as the third-best performer this year among its Asian peers, after the MYR and THB.
As of September 27, SGD had been up 3% this year, at around 1.281 against the USD. The gain began around August in anticipation of a potential rate cut in the US and gathered pace after the Federal Reserve kick-started its rate-cut cycle on September 18.
In August, the Singaporean government raised the growth forecast for the whole year to 2-3% from 1-3% in previous prediction.
The stronger SGD is also a result of a tighter monetary policy by the MAS to fight inflation in the aftermath of the pandemic. The MAS tightened its monetary policy five times within the span of one year from October 2021 and has maintained an appreciating bias for the currency at its most recent meeting in July to rein in prices./.
Singapore’s plan to invest more than 1 billion SGD (743 million USD) in artificial intelligence (AI) over the next five years could strengthen its position as a global business and innovation hub, tech executives said as reported by CNBC.
A new bill introduced on April 5 is expected to pave the way for the Singaporean Government to pay for major national infrastructure projects through borrowing.
Singapore’s government has allocated another 8 billion Singapore dollars (5.8 billion USD) to support workers and businesses hurt by the COVID-19 pandemic, the country's Deputy Prime Minister and Finance Minister Heng Swee Keat said.
Indonesia aims to start nuclear power generation by 2034, with a government roadmap already in place to develop small modular reactors (SMRs) with capacities ranging from 300 to 500 megawatts.
The package, endorsed on June 24, comprises 481 projects designed to boost GDP by an additional 0.4% and generate temporary employment for about 7.4 million people nationwide.
An Indonesian official emphasised that energy security is extremely essential amid global geopolitical and economic fragmentation, highlighting the need for the energy industry to strengthen resilience and responsiveness in the face of fluctuating oil prices and the shift to clean energy.
ASEAN must deepen collaboration through platforms such as the ASEAN Senior Officials Meeting on Transnational Crime (SOMTC) to ensure regional responses keep pace with the rapidly evolving cyber threat landscape.
Speaking at the launch of the Indonesia Economic Prospects June 2025 edition on June 23 in Jakarta, Turk noted that Indonesia’s gross domestic product (GDP) expanded 4.9% in the first quarter of 2025 compared to the same period last year.
Anti-dumping duties will continue to be imposed on producers from China and Japan while those on relevant exporters from the RoK and Vietnam will be terminated, starting from June 23.
A specialist police unit has acquired a fleet of off-road vehicles to help officers navigate rough, unpaved terrain – and flood waters – to respond more quickly to public security incidents.
The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.
The talent programmes mark another milestone in the technical partnership between PETRONAS and the Energy Institute, which focuses on three pillars: promoting decarbonisation and operational excellence through innovative solutions, enabling informed decision-making with expert advice, and nurturing the next generation of energy professionals.
The firefighters found an active blaze at the lorry depot located in the city of Pasir Gudang near the state capital of Johor Bahru, with flames spreading quickly due to strong winds and igniting a neighboring disused oil storage area.
Investigators believe the operation is part of a broader scam network involving romance scams, where victims are lured into fake relationships and persuaded to transfer money.
Ambassadors, Consuls General, along with staff and their families, joined traditional sports and cultural activities of Southeast Asia and performances bearing regional identity, thus contributing to strengthening unity and the ASEAN community spirit in New York.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
