- Joined
- Feb 13, 2017
- Messages
- 3,708
- Points
- 113
SINGAPORE — Other than knee-jerk reactions in the financial markets, economists said that there would likely be no short-term impact on Singapore for being on the United States’ watch list for currency practices.
Eight other nations — China, Germany, Ireland, Italy, Japan, Malaysia, South Korea and Vietnam — are on the monitoring list, based on the US Treasury’s latest twice-yearly report to the US Congress.
Ms Selena Ling, OCBC Bank’s head of treasury research and strategy, said what it does imply is that Singapore may be more heavily scrutinised by the US, even if the countries are not outrightly being accused of being a currency manipulator.
In a note on Wednesday (May 29), OCBC said: “The report also stated that any economy added to the monitoring list will remain there for at least two consecutive reports to ensure any improvement is durable and not due to temporary factors.
"This means that Singapore, like the other new additions to the list, will probably stay there until the next report due later this year.”
More at
Explainer: What is the US currency watch list and why is Singapore on it?
Eight other nations — China, Germany, Ireland, Italy, Japan, Malaysia, South Korea and Vietnam — are on the monitoring list, based on the US Treasury’s latest twice-yearly report to the US Congress.
Ms Selena Ling, OCBC Bank’s head of treasury research and strategy, said what it does imply is that Singapore may be more heavily scrutinised by the US, even if the countries are not outrightly being accused of being a currency manipulator.
In a note on Wednesday (May 29), OCBC said: “The report also stated that any economy added to the monitoring list will remain there for at least two consecutive reports to ensure any improvement is durable and not due to temporary factors.
"This means that Singapore, like the other new additions to the list, will probably stay there until the next report due later this year.”
More at
Explainer: What is the US currency watch list and why is Singapore on it?
