Weak Aussie dollar a boon for Singaporeans

The harbour at Sydney's Rushcutters Bay district. The Aussie dollar fell to below S$1 last week, amid fears over China's economy and weak domestic data.
The harbour at Sydney's Rushcutters Bay district. The Aussie dollar fell to below S$1 last week, amid fears over China's economy and weak domestic data.PHOTO: AGENCE FRANCE-PRESSE

Recent falls kindle interest among some property buyers and holidaymakers

Fears over China's economic slowdown in the face of US trade tariffs and weak domestic data sent the Australian dollar slipping below S$1 last week to a four-month low.

But the Australian dollar, typically seen as a proxy to China's growth, recovered a smidgen yesterday to S$1.0065 as at 7.30pm. It received a boost from planned Sino-US trade talks starting today, which spurred hopes that tensions may soon ease.

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A version of this article appeared in the print edition of The Straits Times on August 22, 2018, with the headline 'Weak Aussie dollar a boon for S'poreans'. Print Edition | Subscribe