Singapore Market Steady Despite Global Turmoil

Although recent credit problems in the US have led to a global market crisis, Singapore remains largely unaffected. The Singapore dollar was weakened briefly on Thursday, only to bounce back again by Friday. As for the foreign exchange markets, Singapore has been watching the unfolding drama with close observation. This is, perhaps, the reason for the city-state's stable economy. Reports Forbes:

The MAS [Monetary Authority of Singapore] said it 'has not needed to conduct any extraordinary operations in the markets. However, we stand ready to act if the situation warrants.'

Read more: Singapore's forex, money markets orderly despite global slump, says MAS