Singapore Dollar Falls To 12-day Low Against Hong Kong Currency
11 August 2009 - 9:45AM
RTTF2
Against the Hong Kong currency, the Singapore dollar edged down
during early Asian deals on Tuesday. At 11:25 pm ET, the pair
touched a 12-day low of 5.3598, compared to 5.3664 hit late New
York Monday. If the Singapore currency falls further, 5.352 is seen
as the next target level.
Singapore's second quarter gross domestic product surged from
the previous quarter, underpinned by strong performance by the
manufacturing sector, an official report said today.
The Ministry of Trade and Industry said GDP grew a seasonally
adjusted 20.7% sequentially in the second quarter, reversing a
12.2% contraction in the first quarter. Economists expected a
growth of 19.2%.
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