The Monetary Authority of Singapore (MAS) affirmed on Thursday that Singapore’s foreign exchange and money markets continue to operate normally, maintaining stability despite global market turbulence.
The central bank’s reassurance came as worldwide equity markets tumbled following U.S. President Donald Trump’s surprise announcement of sweeping new tariffs designed to shield the American economy. “MAS stands ready to curb excessive volatility in the Singapore dollar, and to ensure that Singapore’s foreign exchange and money markets continue to function in an orderly manner,” MAS said in a statement. “MAS is closely monitoring developments and assessing the implications for the Singapore economy,” it added.
