MAS weighs Middle East conflict impact on Singapore; says forex, money markets ‘continue to function normally’
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The Monetary Authority of Singapore (MAS) is monitoring the impact of the ongoing Middle East conflict on the domestic economy and financial system. Despite a downturn in the Singapore stock market, MAS confirmed that the foreign exchange and money markets are functioning normally. The Singapore dollar remains within its appreciating policy band, helping to mitigate imported inflation. However, the conflict poses risks for Singapore's trade-dependent economy, potentially increasing costs for businesses due to volatile energy prices and supply chain disruptions.
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