Singapore dollar hit by SARS woes

The Singapore dollar trades within an undisclosed band maintained by the MAS, but recent events surrounding the war in Iraq and the outbreak of the SARS virus throughout South-east Asia have placed pressure on it, analysts said.

"People noticed that the Singapore dollar was weakening," said Claudio Piron, head of foreign exchange strategy at Standard Chartered Bank in Singapore. "We’ve seen the Sing dollar strengthen recently and the MAS may have come in to try and calm the market a bit."