Singapore continues currency appreciation

The Monetary Authority of Singapore said on Thursday that it would continue to strengthen the value of the Singapore dollar relative to its US counterpart.

The central bank said: "In our assessment, this policy stance will remain supportive of economic growth while capping inflationary pressures and ensuring price stability over the medium term."

The rate of appreciation is set to increase slightly, according to the central bank.

The policy, which was implemented in April 2004, was renewed in