Some Aspects Of Foreign Exchange Management In Singapore.

This paper describes the experience Singapore has had with the managed floating of its currency. The underlying policy of the Monetary Authority of Singapore (MAS) is shown to have been to maintain a strong and stable currency. This has been achieved in spite of the devaluation of the U.K. pound and subsequent floatation and two devaluations of the U.S. dollar. The last section of the paper shows that Singapore was able to maintain the competitiveness of its exports during the 1970s and 80s by controlling its inflation rate to offset the effects of her currency's appreciation. [ABSTRACT FROM AUTHOR]