The Monetary Authority of Singapore (MAS) said last Friday that that the Singapore Dollar money market and foreign exchange market are working as usual through the heightened volatility in global and domestic financial markets. Financial markets around the world are under pressure because of the widespread Covid-19 outbreak.
MAS money market operations have maintained high level of liquidity in the banking system and the Singapore dollar interest rates have had a steadily followed the global interest rates. The nominal effective exchange rate of the Singapore Dollar has eased within the MAS policy band, following declining economic conditions
MAS is ready to guarantee regulated and stable function of the financial markets and Singapore’s financial system.