Would currency speculators attack ‘strong’ Singapore dollar if our economy is really strong?

Phillip Ang

* The author blogs at LikeDatOsoCanMeh.



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10 Responses to “Would currency speculators attack ‘strong’ Singapore dollar if our economy is really strong?”

  • mike:

    I find it very strange…. if anyone realise?

    Given that our currency is “SO STRONG” in the past few years in relative to other currencies, we should be having higher purchase power to cheaper cost of buying imported goods? Correct?

    But instead, things sold in Singapore are mush higher than other countries which imported the same goods. That is despite the fact that some of these countries have higher GST than SG.

    This is something i failed to understand for the past 5 to 6 years. And the more i check some of these household items from time-to-time, the more i see this being common.

    I really cannot find the reasons behind…. Can someone help giving me some idea what is going on?

    That makes me come to the point that is SGD really that strong?

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  • LIONS:

    And,what makes an economy weak?

    If the CITIZENS are economically weaken save for A FEW AT THE TOP 10/20 PCT,how can the ECONOMY BE TRULY STRONG?
    Joblessness creates ECONKMIC WEAKNESS by and by.


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  • Bapak:

    Problem is what if attackers found there is nothing to attack or not worth attacking? That could be their worry & therefore not to reveal!

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  • C’est la vie:

    Opacity and off-kilter information/figures designed for the “locals”, … has a wider implication on the world stage.

    Besides, if the economy and SingDollar by association, is as strong as is “presented”, … no amount of assault could possibly “hurt” it, right !!!

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  • Opposition dude:

    If the economy is shit weak then these speculators would have attacked the dollar by now right?

    So it’s either that the economy is ok or PAP is able to fool the speculators for so long. I don’t have a financial background so if I’m missing something really obvious let me know.

    It does puzzle me why our dollar hasn’t been attacked though.

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  • vincent tan:

    my dearest DPM ah Heng
    you better watch out
    Soros is coming to town

    wishing our dollars are ok…
    sgreans enjoy the premium while it last
    happy shopping in bangkok jb shenzhen
    jakarta manila etc

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  • Partial truth?:

    Possible .

    Last time SEA currency crisis , much bigger countries like Thailand, Malaysia, S Korea,…etc.

    Anything is possible.
    Latest Sri Lanka terrorist attack, 2 of the perpetrators ( brothers ) are from very rich family. Tertiary educated , makan, money and material no problem, even the muslim community are puzzled by their decision.

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  • NotMyProblem:

    PAP has plenty of excuses. Example;

    The government doesn’t know the remuneration of Temasek’s and GIC’s CEOs because of the government works at arm-length with these entities. (Taxpayers are the boss isn’t it?)

    The reason to increase tax is to help the poor. (But the poor getting poorer)

    POFMA is to narrow the power of the government. (Why not just don’t execute the power?)

    HIP2 and VERS are to increase the value of your HDB flats. (But still equals to zero after 99-years)

    You can have sex in a small space. (Save the trouble of providing housing for young couples).

    $800,000 bins center, because it was unique. (Maybe the floor with marble tiles, high ceiling, soundproofing, burglary proof, 24 hours air control and with CCTV surveillance)

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  • Buy from outside Singapore:

    If possible, buy everything outside Singapore and have the goods shipped in. Save a lot of S$ since goods do not include land cost items such as rent.

    If not possible, buy online, avoiding any brick and mortar. After all the extra S$ paid for the brick and mortar do NOT add to value of goods since the same items are sold so much cheaper just across the causeway.

    We do visit 70% sheep shops in Singapore. Not to buy. But to have a feel for the product, its quality, and measurements. After the visit, buy online from outside Singapore. The same items are 100% guaranteed to be cheaper online outside Singapore than from any local shop.

    Of course those who disagree can continue to buy from local shop. Our point is not for such people. Our point is for people who find the same goods much more expensive in Singapore than outside Singapore.

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  • HarderTruths:

    it is easy to close the capital account temporarily if necessary. This is what Malaysia did during the Asian Currency Crisis.

    There are ways to stop speculation like what China does to limit offshore yuan by banks to limit short sells.

    There are many ways to control the problem. Just another excuse to keep this secret.

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