News analysis

US puts Singapore on currency watch list: A nudge to relook currency policy, high savings rates

Think of it as a heavy hand draped gently around your shoulder.

The US Department of Treasury's move to include Singapore on a watch list, along with Germany, Ireland, Italy, Japan, Malaysia, South Korea and Vietnam is, therefore, a nudge to relook its currency policy and high savings rates. The last time any country was actually named a currency manipulator by the Treasury was China, almost a quarter-century ago.

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A version of this article appeared in the print edition of The Straits Times on May 30, 2019, with the headline 'A nudge to relook currency policy, high savings rates'. Print Edition | Subscribe