Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58330)	1/2/2002 9:03:35 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Wednesday January 2, 5:39 PM Singapore shows economic confidence with forex move By Jacqueline Wong sg.news.yahoo.com SINGAPORE (Reuters) - The Singapore government and central bank on Wednesday signalled greater confidence in the economic outlook and prospects for a more stable local dollar, taking the opportunity to make a key change in currency policy. The Monetary Authority of Singapore (MAS) said it would narrow the trading range for the local currency and centre the new bands on the current value of the Singapore dollar because market and economic conditions had become less volatile. The move came immediately after government figures showed the economy contracted by a less than expected 2.2 percent in 2001 and that gross domestic product grew at an annualised rate of 4.3 percent in the fourth quarter versus the third. The central bank focuses its currency policy on the Singapore dollar's nominal effective exchange rate (S$NEER), which analysts say is similar to its trading level on the foreign exchange market. The Singapore dollar is currently trading near 11-year lows against the U.S. dollar.