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Old 29-01-2015, 08:41 AM
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Default MAS to slow appreciation of Singapore dollar



Source: CNA

SINGAPORE: The Monetary Authority of Singapore (MAS) said on Wednesday (Jan 28) it will adjust its monetary policy and let the Singapore dollar appreciate at a slower pace.

The revision in monetary policy came as a surprise as MAS was only scheduled to release its next monetary policy statement in April. MAS last made an "off-cycle" adjustment to policy in October 2001, in the aftermath of the Sep 11 attacks in the United States. At that time, MAS issued policy statements in January and July.

The Singapore dollar fell on the news, losing close to 1 per cent against the US dollar and by around 0.5 per cent against the euro. Around 11.30am, the US dollar was trading around S$1.3521, while the euro was worth S$1.5328, according to Bloomberg data.

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If there's people out there still thinking SG is immune to currency wars, this just made it official that IT IS NOT!
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Last edited by sunburn; 29-01-2015 at 09:11 AM. Reason: text edit
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Old 29-01-2015, 09:09 AM
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Default Singapore latest to join currency wars, hits 2010 low



Source: RT

The Singaporean dollar tumbled to a 4-year low against the US dollar after the Monetary Authority unexpectedly stymied currency appreciation. The move is just the latest in the trend of weaker currencies in 2015.

The unexpected move sent the Singapore dollar to 1.3570 against the US dollar, the lowest since 2010.The last time the bank intentionally slashed the appreciate rate of the currency was in 2011. Emerging Asian currencies - such as the Malaysian ringgit and the Thai baht - dropped on the move.

In a surprise statement Wednesday, the Monetary Authority of Singapore said it would reduce the band of the currency.

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It's not really a "surprise" we've been expecting it!!! If you've been following the financial news. It's like almost every Central Banks in the world are racing to devalue their currency. What makes you think SG is different? Its a DOUBLE CONFIRM as its just a matter of time before MAS follow suit. And now its official.

Paper money all around the world are now becoming worth less and less. So bet against the debt and protect your hard earned money. Buy precious metals Gold and Silver. Capiche?
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Old 29-01-2015, 09:23 AM
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Default What is currency war?

Currency War

Wikipedia's definition:

Currency war, also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency.

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My definition:

The art of making your paper money worth-less!
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Old 29-01-2015, 09:29 AM
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Default Singapore Enters The Currency Wars: Weakens SGD By Most In 3 Years

"...yet another world nation entered the 'devalue-or-die' brigade. Singapore's MAS announced a surprise shift in the slope of their policy band - implicitly loosening policy and so the Singapore Dollar dumped over 160 pips against the USD, the biggest drop in almost 3 years, tumbling to its weakest since Mid 2010..

The Sing Dollar weakened to 1.35 against the USD - the biggest single-day drop since Feb 2011..."

Source: Zerohedge
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Old 29-01-2015, 09:35 AM
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Default

So what does that result for gold & silver in the coming days? Anyone...
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Old 29-01-2015, 09:53 AM
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Quote:
Originally Posted by GoldScaraB View Post
So what does that result for gold & silver in the coming days? Anyone...
Price of gold will be more expensive in SG.
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Old 29-01-2015, 10:06 AM
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Assess spot price movement and don't worry about Sing dollar. Price movement is still the bigger factor.
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Old 29-01-2015, 10:45 AM
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Default I have my suspicion

Since last week gold price has gone up...but not as much as i would like based on what is happening around the world. It is just my opinion that the elite are still in control of the gold price movement. In any case, they've already put in place stop-loss mechanism (for themselves!) just in case they lose control of the gold price. In the mean time, it's still a good time to buy more pm's while it is still affordable!
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Old 29-01-2015, 01:47 PM
GoldScaraB GoldScaraB is offline
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Hmm ok, control the head and the tail will follow. Watch the spot price.
Anymore to add? If not, thank you for the input.
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Old 30-01-2015, 08:15 AM
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Default Currency Wars are the gift that keeps giving.

Now Singapore cuts rates, trashes currency, joins the crowd. Russia raises gold holdings for 9th month in a row.

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