The Monetary Authority of Singapore (MAS) announced on 3 April that Singapore’s foreign exchange and money markets are operating normally, amidst ongoing global economic uncertainties. The central bank emphasised its readiness to intervene if necessary to kerb excessive volatility in the Singapore dollar and maintain orderly market conditions.
MAS is actively monitoring the situation and evaluating potential impacts on the Singaporean economy. This proactive stance aims to reassure investors and stakeholders of the stability and resilience of Singapore’s financial markets.
In a statement, MAS highlighted its commitment to ensuring that the markets continue to function smoothly. “MAS stands ready to kerb excessive volatility in the Singapore dollar, and to ensure that Singapore’s foreign exchange and money markets continue to function in an orderly manner,” the statement read.
The announcement comes as part of MAS’s ongoing efforts to maintain confidence in Singapore’s financial system, which is crucial for the country’s economic health. The central bank’s vigilance and preparedness to act are seen as key measures to safeguard against potential disruptions in the financial sector.
As global economic conditions evolve, MAS’s monitoring and readiness to intervene will be critical in maintaining market stability. This assurance from MAS is expected to bolster confidence among market participants and support the continued functioning of Singapore’s financial markets.
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