Expensive city because of strong Sing dollar

Some election candidates have cited the Economist Intelligence Unit survey that ranks Singapore as the most expensive city in the world, to show Singaporeans that the cost of living is very high.

Surveys such as this one use the US dollar to compare cities all over the world.

One main reason we have become the costliest city is the strength of our currency.

From 2005 to the end of last year, the Singapore dollar has risen 25 per cent against the US dollar, 53 per cent against the British pound, 36 per cent against the euro, 18 per cent against the Australian dollar, 1 per cent against the Swiss franc, 30 per cent against the Canadian dollar and 39 per cent against the Japanese yen.

Tan Boon Tiong

Hong Kong

A version of this article appeared in the print edition of The Straits Times on September 10, 2015, with the headline 'Expensive city because of strong Sing dollar'. Print Edition | Subscribe