SGD/ KRW has officially broke the 800 support level. I am not a currency player or a forex expert; but as long as oil price remains muted , I expect more easing in SGD till export climbs. There could be a slight pull back to about 800 levels, before more downside.
SGD has weakened against other currencies after MAS decides to loosen their monetary policy.
To understand about Singapore’s monetary policy, here’s the article :Monetary Policy (MAS)
As Singapore is a net importer of oil and with falling oil prices, it makes it attractive to weaken SGD since they can already buy oil at lower prices. A weaker SGD also helps to boost exports (manufacturing sector especially) Not too sure if you’ll know that Singapore’s exchange rate is more or less determined by MAS compared to countries like Malaysia which is so sensitive to oil prices and other output factors such that government can only intervene to a small extent.
For those going overseas trip soon, it’s wise to do some dollar costs averaging to convert some foreign currencies first.
USD to SGD @ 1.36 seems attractive though if one is to look at the long term chart. That’s why I didnt wanna convert my USD back to SGD despite STI being so attractive, so I bought some US oil stocks like Exxon for long term.