Singapore dollar to slide to 5-year low due to MAS easing, reveals poll

The SGD could drop to $1.39 to the dollar by the year-end.

Singapore’s dollar will slide about 3 percent versus the greenback to the lowest since July 2010 after the city-state’s central bank unexpectedly eased monetary policy, according to a survey of analysts by Bloomberg News.

According to Bloomberg, the currency will slide to S$1.39 by year-end after the Monetary Authority of Singapore probably reduced the slope of its appreciation against a basket of currencies by a percentage point, according to the median estimates of 15 economists and strategists. The central bank, which uses the exchange rate as its main policy tool, changed its settings last week in an unscheduled announcement.

Read the full report here.