Govt has no control over currency trading says MAS

The Monetary Authority of Singapore (MAS) said the government does not exercise any control over currency trading in Singapore. Currency values are determined by market forces and the banks which trade them are merely "intermediaries" which allow them to find the natural levels, The Straits Times here reported today.

Indonesian President Abdurrahman Wahid had said that Singapore government should stop currency speculation by commercial banks that he alleged has helped to drive down the rupiah'

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