Singapore announces changes in currency policy

The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and expand the country's financial market.

In a notice to banks issued Wednesday, MAS said banks can now lend Singapore dollars to non-residents for investment purpose in Singapore and can extend Singapore dollar credit facilities to non-residents to

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