Responding to media queries, the Monetary Authority of Singapore (MAS) said it is closely monitoring developments related to the ongoing situation in the Middle East and assessing the potential impact on Singapore’s domestic economy and financial system. MAS confirmed that Singapore’s foreign exchange and money markets continue to function normally. The Singapore dollar nominal effective exchange rate (S$NEER) remains within its appreciating policy band, which MAS noted will continue to dampen imported inflationary pressures. MAS also reiterated, with reference to its January Monetary Policy Statement, that it is in an appropriate position to respond if necessary to risks to medium-term price stability.
Monetary Authority of Singapore 2026-03-02
Monetary Authority of Singapore confirms FX and money markets are functioning normally while monitoring Middle East developments
The Monetary Authority of Singapore (MAS) is closely monitoring the Middle East situation and its potential impact on Singapore's economy and financial system. MAS confirmed normal functioning of foreign exchange and money markets, with the Singapore dollar nominal effective exchange rate within its appreciating policy band. MAS reiterated its readiness to address risks to medium-term price stability as needed.