Singapore Dollar Has Reasons to Win Asia’s Currency Crown Again

The odds are growing for Singapore’s dollar to be Asia’s best-performing currency for a third straight year as the central bank looks set to keep using a firm exchange rate to combat inflation.

The nation’s currency presently ranks in third place in the region for 2024, behind the Hong Kong dollar, which is pegged to the greenback, and the Indian rupee. However, it’s catching up with those peers due to speculation sticky price pressures will prompt the Monetary Authority of Singapore to maintain its appreciating exchange rate settings in its policy review due Friday.