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Singdollar emerges as Asia’s best performer: Will it continue to stay strong amid USD rise?

SINGAPORE – As this year’s US dollar rally crushes Asian currencies, foreign exchange traders are seeking refuge in the region’s best outperformer – the Singapore dollar.

Thanks to a recovering economy and a hawkish central bank that has tightened monetary policy four times since October 2021, the Singdollar has outperformed its regional peers including Asia’s dominant currencies of China and Japan, analysts said.