by Robin Chan

THE rise of the Singdollar against the United States greenback came to a halt yesterday after the Monetary Authority of Singapore (MAS) signalled it was not going to change its exchange rate policy.

The Singapore dollar, which is kept within a set range against a basket of other currencies, fell to $1.399 to the US dollar at 5.30pm, after hitting a 15-month high of $1.39 last Thursday.

Despite the slight fall, economists do not expect the Singdollar to lose much more value against its US counterpart. They expect it to trade between $1.37 and $1.40 until the second quarter of next year. This is due mainly to the continued weakness of the greenback and market anticipation that the MAS will eventually allow the Singdollar to strengthen.

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