Yen Exchange Rate Watch

[ahkiat]

changed yest at arcade... 15.16...

 

[fox1]

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/419901/1/.html

SINGAPORE : The Monetary Authority of Singapore is likely to allow the Singapore dollar (Sing dollar) to depreciate at its upcoming monetary policy meeting. Experts are expecting a downward re-centring of the Sing dollar policy band by 150 basis points - even if the economy goes into a deeper recession.

Commodity prices have come off highs recorded in 2007. And this has brought down Singapore's monthly consumer price index significantly.

Leong Wai Ho, associate director and regional economist, Barclays Capital, said: "February was 1.9 per cent, significantly lower than the 6.5 per cent peak last year. Rising joblessness as well as rising underemployment, which refers to the number of workers having to take unpaid leave, has risen sharply since November last year."

Regional currencies are also expected to slide against the dollar.

These two factors are likely to motivate the Singapore central bank to devalue the local currency.

Barclays said this will drive the US-to-Sing dollar rate upwards to the mid 1.50s in the next three months.

And while a poor economic outlook could deter the central bank from making the move, observers said there are signs of some form of stabilisation in Asia. For example, inventory ratios have come off in economies like Taiwan and Korea.

Mr Leong said: "The correction of the inventory cycle - that's come through... we see that quite clearly in places like Korea (and) Taiwan, which have quite good and comprehensive data on inventories. We see inventory ratios in those countries coming off in January and February.

"Singapore is no exception. Manufacturers in Singapore have been cutting inventories as well in anticipation of a weaker external environment. Another dynamic that helped is in recent weeks we saw large swing orders come through from global consumer electronic companies for basic components.

"It is a sign that utilisation rates have been too low, and that there is some need to rebuild inventories in the short term."

However, the move to devalue the currency comes with negative effects to Singapore importers.

Mr Leong explained: "The effect... of a weaker Sing dollar on import-intensive industries like construction activity, and domestically-focused industries like retail, which import and sell domestically... I think the effect of a devaluation, the net effect would be a rise in business costs."

Barclays is expecting Singapore's economy to contract by 4 per cent this year, falling within the government's official -2 to -5 per cent forecast. During the most recent recession in 2001, Singapore's economy contracted by 2.3 per cent. - CNA/ms

Hope SGD goes down against the Yen. Hehe!!!!!

 

[dreamer75]

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/419901/1/.html


Hope SGD goes down against the Yen. Hehe!!!!!

why say this?

cos u r not travelling to japan anytime soon or had changed yen at a higher rate??

 

[evilerniex]

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/419901/1/.html


Hope SGD goes down against the Yen. Hehe!!!!!

u living in japan?
for the rest of us, we will be hoping yen goes down and sgd goes up

 

[Tsuteki]

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/419901/1/.html


Hope SGD goes down against the Yen. Hehe!!!!!

thats bad cos sgren will pay more for import items. smart ass weaken our currency make us bleed more

 

[SecretZone]

haha ya, fox1 also living in japan

me neutral now~ cos aleady send back my saving to SG in Feb when it was 16.5 ^^;

 

[otake1982]

errrr...... ok.....

 

[otake1982]

think better change another 500 b4 this news affects the rates.

 

[dreamer75]

14.9 hit

 

[otake1982]

14.9 hit

hell yay!

popping by Arcade later.

 

[stars87]

awesome !

 

[dimitri_can]

15.01..........

 

[stars87]

15.01..........

if mustafa is at 15.01, arcade must probably be around 14.8

i might not like why the muffin came here and spouted stuff about a 14.83 yen exchange rate without clarifying why and how it might occur.

but i do have to admit, i was horribly wrong in the estimation that it wouldnt reach that figure by april.

 

[Tsuteki]

now at the yahoo currency exchange it show

1000 yen = 14.8798

so arcade should be $14.94

 

[ransackyourtoilet]

Wow gonna change today and tmr then...Hopes it falls further tho..Hehe!

Btw, did someone try living in Japan before? I'm gg to Fukuoka to study Japanese, and I'm wondering how much I should change...For my meals and the "inevitable" shopping and touring fees. Is 1000 enough for two months?

Thanks snap99!

 

[SecretZone]

Wow gonna change today and tmr then...Hopes it falls further tho..Hehe!

Btw, did someone try living in Japan before? I'm gg to Fukuoka to study Japanese, and I'm wondering how much I should change...For my meals and the "inevitable" shopping and touring fees. Is 1000 enough for two months?

Thanks snap99!

me fox1 and final1 also iirc

depending on how u spend i guess, my monthly expend is 30~40k yen, which cover basically everything except rent.
recently on budget saving~ bring own bento to work, so last 2 months spend on 25k~ yen

 

[chanvh]

heh... looking at it 15.03

so it should be below 15 by Weds...

 

[dreamer75]

14.97 at Arcade

 

[otake1982]

arcade fluctuating at 14.9x to 15.0x.

hmmmmmmmm thinking shd change soon or not liaos.

 

[zanyduke]

Hmmm.. same here. But i think it will drop futher on wed.
Shld change now or tomorrow? But at arcade only big notes