MAS denies currency manipulation

29th May, 2019 11:45:37 printer

SINGAPORE: The Monetary Authority of Singapore (MAS) on Wednesday issued a release in response to media queries on the U.S. Treasury Report on Macroeconomic and Foreign Exchange Policies (UST Report), saying that it does not manipulate its currency for export advantage.

The MAS reiterated that Singapore's monetary policy framework, which is centered on the exchange rate, has always been aimed at ensuring medium-term price stability, and will continue to do so, reports Xinhua.

"As pointed out in the UST Report, MAS manages the Singapore dollar nominal effective exchange rate (S$NEER) within a policy band, just as other central banks conduct monetary policy.