Singdollar recovers ground against US dollar

The Singapore dollar had strengthened slightly to 1.3931 against the US dollar by Thursday morning.
The Singapore dollar had strengthened slightly to 1.3931 against the US dollar by Thursday morning. PHOTO: EPA

SINGAPORE - The Singapore dollar had strengthened slightly to 1.3931 against the US dollar by 10.30 Thursday morning, after weakening to a low of 1.4168 on Tuesday.

It has weakened slightly to 2.8698 against the ringgit after reaching a high of 2.888 early Thursday morning.

The Singdollar and other regional currencies have been weakening against the US dollar since Tuesday, when the Chinese central bank devalued its yuan.

However the US dollar itself has begun weakening amid speculation over whether the Federal Reserve will raise interest rates in September, given China's devaluation of the yuan.

jkoh@sph.com.sg