FX Week

Singapore relaxes restrictions

Lee Hsien Loong, MAS chairman and deputy prime minister of Singapore, announced on May 27 that non-resident, non-financial issuers of Singapore dollar bonds and equities would no longer have to convert Singapore dollar proceeds into foreign currencies before sending them abroad. However, non-resident, financial issuers of bonds and equities must still change profits into foreign currencies before repatriation.

The move will deepen the market and create more liquidity, said Chia Woon Khien, se