[sclim]

SGD hasn't weakened much and I believed they used part or even most of that 30b keeping SGD strong. However, our reserve currencies suffered cos the rest of the currency dropped in value. MAS should instead let SGD depreciate to the next band around 1.45. This further strengthen our position as the place to store wealth, because it is easier for the funds to want to come in...

Edited cos I was thinking of USD and also how RMB moved after opening up. Funds are likely going into risk off mode even when they don't announce or say anything. They will want to go to a place to store away funds... JP Morgan had gone back into RMB given the weaker currency, SGD has to depreciate else funds will not come in..

let usdsgd fall from 135 to 145 is 7.4% drop. chicken wing at $2 will then cost more then $2.15 taking into consideration the inflation effect after importers pass thru many hands and transport cost will also increased.  then worker demand more wages and another round of inflation then ah wong want another 1% gst then another round of inflation.

so better for mas to loose some money then for me to spend more on daily necessary