March 13, 2020 / 9:15 AM / a month ago

Singapore financial markets functioning well, central bank says

SINGAPORE, March 13 (Reuters) - The Singapore dollar money market and foreign exchange market are functioning normally in the face of heightened volatility in global and domestic financial markets amid the coronavirus outbreak, the city-state’s central bank said on Friday.

The nominal effective exchange rate of the Singapore dollar has eased in an orderly manner within the Monetary Authority of Singapore’s policy band, in line with weakening economic conditions, it added.

MAS has left a higher level of liquidity in the banking system through its money market operations, and Singapore dollar interest rates have eased in tandem with global interest rates, it added. (Reporting by Aradhana Aravindan in Singapore; Editing by Kevin Liffey)

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