Down

As at lunchtime today, it's USD1 = SGD1.3645. The government here is responsible for this depreciation, the specifics of which can be read in the news.

I'm not a financial analyst, I don't wish to engage in any speculations either. But this is for sure- I'm shelving plans to proceed with a Fender-Japan order. I'm holding out against the acquisition of new effects pedal; I have a few on the list. I'll be making lesser trips to the guitar stores for the rest of the month as well; no use auditioning gear which you don't end up buying.

You might say it's only a little hit to the coffers, it's still not cracked. That's true but it's a tremendous hit to spending power especially to individuals with housing loans to clear, family members to feed & vehicles to maintain. The powers that be is effecting this for the best interest of the local economy, it's a calculated preventive measure. Whatever it is, it's a tampering of market forces which will manifest in consequences. It's a matter of time.