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S'pore firms start to feel benefits of stronger Singdollar but competitiveness could be hit
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The Monetary Authority of Singapore has been raising its support for the local currency to cool inflation.
ST PHOTO: KUA CHEE SIONG
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SINGAPORE - Companies here that deal with overseas trade as part of their business have recently been experiencing - or are now beginning to - the impact of a strengthening Singapore dollar.
The effect goes two ways: A stronger local currency tends to make imports cheaper for businesses such as property developers, food and beverage (F&B) businesses like supermarkets and restaurants, as well as retailers that purchase materials or products from abroad. However, it might hit the demand of exports from Singapore companies that sell their goods to overseas markets, industry players and businesses told The Straits Times.
