πππIn life, there are always 2 sides to a coin. A strong SGD means imported products such as electronics, everyday household items and luxury goods tend to be more affordable.
A higher value SGD means that when we exchange for foreign currencies, we will end up with more purchasing power. This directly benefits consumers as lower prices on imported goods can help ease the cost of living.
If we are travelling overseas, our money will stretch further, making international travel more affordable.
A strong SGD will help to keep inflation in check by reducing cost pressures of imported goods and commodities.
On the flip side, a strong SGD may deter inbound tourism and sectors like dining, retail may experience slower growth.
Our locally produced goods will cost more for foreign buyers affecting our export trade.
A strong SGD requires MAS to recalibrate exchange rate to balance our economy. For me it means more trips to JB. π₯°π₯°
@Tiger_SG @Tiger_comments @TigerStars
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