CHFSGD Exchange Rate

The private sector in Singapore continued to expand in April, although at a slower pace, the latest survey from S&P Global revealed on Monday with a services PMI score of 52.6.

The Swiss National Bank raised the minimum reserve requirement for domestic banks, which is set to reduce its payout. The SNB lifted the minimum reserve ratio to 4 percent from 2.5 percent. The bank also made changes to how it calculates the minimum reserve requirements.

Singapore central bank left its monetary policy stance unchanged as core inflation is projected to stay elevated in the immediate quarters ahead, while the economy logged a weaker-than-expected growth on softer manufacturing and construction activity. The Monetary Authority of Singapore decided to retain the prevailing rate of appreciation of the S$NEER policy band.

The private sector in Singapore continued to expand in March, albeit at a slower rate, the latest survey from S&P Global revealed on Wednesday, with a PMI score of 55.7.