SINGAPORE'S central bank said on Monday it will ensure stability in the country's financial system, and that it stood ready to inject additional liquidity into money markets if necessary.

'We will take any necessary measures to safeguard the stability of Singapore's financial system,' the Monetary Authority of Singapore said in a statement.

The central bank, which said it welcomed plans by G7 financial ministers and central banks to work together, said domestic money and foreign exchange markets were generally calm, and that banks could get funding from the interbank market.