It has been more than a decade since the Singapore dollar was last this strong against its US counterpart, and the effects are being felt by everyone from importers and exporters to shoppers and tourists.
The exchange rate touched the highest level since 2014 on Aug 26, not long after Prime Minister Lawrence Wong highlighted the importance of a strong currency as a shield to help Singapore combat inflation. The Singdollar is close to a record against the Indonesian rupiah as well, and not far off highs against the yen.
Luxury travel agent Lauren Raps, co-founder of Alchemist Travel, said her clients are getting out of town more frequently - and are quick to make deposits on bookings. "Their dollar goes further and they can live like kings" in places like Bali or Bangkok, she added. "Dining out here can be quite expensive."
Bu hikaye The Straits Times dergisinin September 06, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin September 06, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
S'pore key for StanChart as trade, investments in Asean grow: CEO
Region starting to rival Greater China, S. Asia and Mid-East in contributing to bank's business
Should you time your resignation to avoid losing out on bonus?
In this series, manpower reporter Tay Hong Yi offers practical answers to candid questions on navigating workplace challenges and getting ahead in your career. Get more tips by signing up to The Straits Times' HeadStart newsletter.
Entrepreneur fails to stop bankruptcy action over $34 million business debt
Court rejects her plan to repay banks via sale of properties, revenue from leasing
Markets cheer prospect of Fed rate cuts
Expect more gains this week, although there are some minefields further ahead
US companies avoiding layoffs, but hiring has slowed
As job growth has slowed and unemployment has crept up, some economists have pointed to a sign of confidence among employers: They are, for the most part, holding on to their existing workers.
Sustainable finance, GenAl among skills identified for those in banking
IBF and SkillsFuture working to build capabilities, particularly among SMEs
Saving S-E Asia's trees requires action on climate, land use: Study
Region's forests facing 'double whammy' of threats from climate change, deforestation
Only female in milling event out to break barrier
When Ms Shanice Wong, 20, realised she was the only female in a male-dominated event, she knew she had to rely on \"girl power\" to secure a win.
Poly student leans on hotel industry training
A nosy handyman tests your professionalism. Attendees of a wedding party create a ruckus in the hotel lobby. A distraught guest crumbles in panic after losing her passport.
Parlaying their skills at ‘Olympics'
Duo fly the flag for S'pore with expertise in trains