SINGAPORE - Singapore's central bank said it made net purchases of foreign exchange worth US$29.9 billion from intervention operations during the second half of last year.. Read more at straitstimes.com.
SINGAPORE - Singapore's central bank said it made net purchases of foreign exchange worth US$29.9 billion from intervention operations during the second half of last year.
The six-monthly report was earlier scheduled to come out in July. However, MAS brought forward the disclosure date to provide more timely information to financial markets amid the coronavirus-induced turmoil. On March 30, MAS announced it would ease its policy on the Singdollar by setting the currency on a zero per cent appreciation path at the prevailing lower level of its exchange rate policy band, as Singapore braces for its worst recession ever.MAS intervenes in the foreign exchange market as needed to keep the Singapore dollar's value within the policy band's boundaries.
The data comprises MAS' net purchases of foreign exchange from its intervention operations on a six-month aggregated basis, and with a three-month lag from the end of the period, it said.
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