Why is the S'pore dollar plunging?

[88max]

The SG govt did say they allow SG currency to appreciate in order to fight inflation. Now that S'pore dollar start plunding, what other excuses this time they're going to give this time.


Why is the S'pore dollar plunging?

Sat, Aug 09, 2008
The Straits Times

The value of the Singapore dollar yesterday suffered its largest fall against the US dollar in two years, diving 1.2 per cent to $1.40 to the greenback.It was the biggest weekly drop in four years.

Analysts say anxieties over slowing growth have not overtaken inflation concerns. The local currency, along with the euro, yen and other major currencies, are being assailed by growing signs that America's economic slump is spreading worldwide. Ironically the American dollar still stands tall.

The fall in the value of the S'pore dollar means it is losing ground and is expected to weaken further in the coming months.

 

[Lentor]

it's the golden period now!

 

[makapaaa]

The Papayas thought that that they could depend on $ laundering to offset falling export, but they've obviously made the the wrong bet and are now desperately trying to depreciate AssGD!

 

[silverfox@]

The SG govt did say they allow SG currency to appreciate in order to fight inflation. Now that S'pore dollar start plunding, what other excuses this time they're going to give this time.


Why is the S'pore dollar plunging?

Actually I find this forum very funny. I see a lot of people dissing Singapore at the very slightest issue. Take potshots, opportunities to give their point of sarcasm. It's very entertaining at times to see human behaviour like thse.

Because you start to wonder, why don't these people leave singapore? And the next question you start to ask, since these people have left(if they did), why are they still so 'concerned'?:p

 

[jerry]

Actually I find this forum very funny. I see a lot of people dissing Singapore at the very slightest issue.

Singaporeans have nothing better to do. What do you expect when the typical citizen lives in a pigeon hole..

 

[silverfox@]

Singaporeans have nothing better to do. What do you expect when the typical citizen lives in a pigeon hole..

Well, to quote, most of us here are luckier than many of the people outside Singapore.

It would be cruel to say we live in a pigeon hole, while for many others, they don't even have a blanket to start off with.

 

[ns is killing singapore]

curse the scum...now i have to pay more for online purchases KNN!!!

 

[dysentry]

Relax, USD will become a banana currency...

 

[smoothnsleek]

The impact, if any, for the majority of us Singys who hardly travel further than SEA will at most be minimal. US$/Sg 1.35-1.45 hardly dents folks who occasionally makes online purchases from US$ denominated websites. IMHO, it's more a "feel shiok" factor. Wasn't too long ago when we were at US$1.50 and we were doing alright. let's breathe a bit easier now that oil's softened for the time being.

 

[sammyboy]

aiyah...oil price drop mah...i believe most currencies weakened against the dollar

 

[ahbengsong]

a year ago... it is like 1 usd = 1.5 sgd and now it is 1.4.. meaning the sgp has strengthen against the usd... I don't understand why the newspaper say it is a "dive" unless they are comparing on a month to month basis...

beng

 

[silverfox@]

The impact, if any, for the majority of us Singys who hardly travel further than SEA will at most be minimal. US$/Sg 1.35-1.45 hardly dents folks who occasionally makes online purchases from US$ denominated websites. IMHO, it's more a "feel shiok" factor. Wasn't too long ago when we were at US$1.50 and we were doing alright. let's breathe a bit easier now that oil's softened for the time being.

It's not only SGD that plunging, even thai baht too. How come no one mention that, but only SGD.

Compared to the past, when I travel to US, I have to exchange around $1.70
Now even at $1.40, It's much better. That is why if it goes down to $1.30, no one complain, everyone keep quiet. When go up to $1.35 only, you see people start taking potshots. Funny human behaviour

 

[ahbengsong]

bro... I am paid in usd.. haha.. and now I got to go ask my boss for adjustment since the last package is peg at 1 usd = 1.5 sgd....

beng

 

[silverfox@]

bro... I am paid in usd.. haha.. and now I got to go ask my boss for adjustment since the last package is peg at 1 usd = 1.5 sgd....

beng

That is why many here look at things which are very one side from their perspective. From the other side, it is another perspective altogether.

 

[southwest]

The fall in the value of the S'pore dollar means it is losing ground and is expected to weaken further in the coming months.

That's not good for overseas vacation

 

[ahbengsong]

That is why many here look at things which are very one side from their perspective. From the other side, it is another perspective altogether.

I agree..... it depends on which side one is looking at this usd=sgd exchange.... my major expenses is in chinese yuan and the usd has depreciated from 7.2 yuan to 6.98 yuan..... so either way (sgd or yuan)... I get a pay cut by default !

beng

 

[silverfox@]

I agree..... it depends on which side one is looking at this usd=sgd exchange.... my major expenses is in chinese yuan and the usd has depreciated from 7.2 yuan to 6.98 yuan..... so either way (sgd or yuan)... I get a pay cut by default !

beng

Maybe its just me, I don't see much future in USD under Bush Administration. Probably have to wait for the next president and can probably see things much clearer in terms of their economy and dollar.:o

 

[ahbengsong]

Maybe its just me, I don't see much future in USD under Bush Administration. Probably have to wait for the next president and can probably see things much clearer in terms of their economy and dollar.:o

Park your sgd in euro and NZD..... they are expected to be stable if not appreciating.... EU is getting to be an economic powerhouse within the next decade....

I park 30% of my cash in chinese yuan... 30% in usd.... and the rest in euro...

beng

 

[silverfox@]

Park your sgd in euro and NZD..... they are expected to be stable if not appreciating.... EU is getting to be an economic powerhouse within the next decade....

I park 30% of my cash in chinese yuan... 30% in usd.... and the rest in euro...

beng

Euros have all along been rather stable. Like a bit too dormant. But I don't play currencies. I still prefer shares. :o

China seems a bit deflated these days. And with world dealing with inflation issues, seems very murky at this point of time

 

[smoothnsleek]

Since the '80's, the US has been in 'spending mode', encouraged by that actor called Reagan. Their annual budget had always been in deficit...there's only one way for their currency to go...south. One reason, IMO, US$ is still where it is, is cos world govts dare not create turmoil by dumping US$. The US is still the 'guardian' of the world, so they get some respect, but very grudgingly.

Looking at currency rates from both sides is correct...I dun see US$ weakening....I see other currencies strengthening. (It's one way of telling someone I give u due respect but to hell with u haha).

As for Kiwi & Oz, read the following :

http://www.bloomberg.com/apps/news?pid=20601081&sid=aPRUopSt8utk&refer=australia

Good luck and take care bros!