US$ dropping like $..... :D

[PhiBeR]

Guys,

the US$ have dropped to abt 1.65 liao ah..
Let's hope it drops to even further, best 1.5 ah!!
it's time for us to do major shopping!

Just in time for Christmas..
It's the season to be jolly.. la la la la la la la la la..

Think we muz write letter to thank Bush!

[HZM]

Yup, I just went to closed my US dollar current account. No point holding it. Looking at the debt the US had, I am hoping it to go below 1.6


Mike

[mack]

Sigh...
The US dollar is dropping and I have a US dollar account too! Have to hold on to the account b'cos using it to make payment to overseas and receiving overseas funds.

On the plus side, cheaper imports only...

Heard that interest rate for US dollar might go up after the recent job data! So, still holding the $$$...

[nic]

well i dunno if I should be happy...
US$ drop
-> S$ expensive...
-> less investment coming to Singapore from USA....
-> jobs security.....



Oh a happier note.. at least now I am not working in a USA company anymore....

[HZM]

Nic, if you don mind, keep us posted the next time u notice BPP offer free shipping

Mike

[nic]

I waiting too.. haha... Just missed their last one that ended on 31st Oct.

If they had shipped my first order sooner.. I would have gave them a 2nd order...

[glenn cain]

1.6 is just 0.1 or 0.15 less than before. On large scale, perhaps it is huge change, but does it really differ that much economically? ANd why is it dropping? sorry arr, i am business/econ/market n00b here.

[Ryan]

usually due to election.

[wei young]

certainly with a republican president and his unilateral policies

market thinks it'll drop further, especially against australian ... and sgd

so hold on a little if u can wait, before sending that big wire transfer across to ur us bank account

[HZM]

I personally feel that the US dollar had raised itself too high in the past. Given the debt it had, market watcher expect it to go further. Really don know when will be the rock bottom but I would feel 1.5-1.6 seems to be a reasonable exchange. Finger cross

Mike

[nic]

See my posting here

http://www.daddyhobby.com/forum/showthread.php?s=&threadid=229&highlight=dollar

MAS announce in April that they are aiming to let S$ rise gradually by year end to $1.60

So.. from that time.. there were already plans... but when they want to like it change, and the time frame.. no one can exactly tell, that is to avoid speculations and profiteering. also for them to see how the Singapore economy is. -- currency control is part of economics tools usable to manage a country's growth rate....

[mack]

With a stronger S$, it would not help our exporters much. Our exporters' prices would be less competitive in the global arena.

Imports would be cheaper based on US$. Are importers going to lower the imported goods to benefit the consumers. Are they using FIFO or LIFO inventory control? Also, would the consumers going to spend more with job insecurity nowadays?

More holidays?

Let's see how our Singapore monetary policy would affect our economy as a whole.