Singapore’s MAS Says Chief Didn’t Say US Dollar Assets Are Irreplaceable

Singapore’s central bank said both cyclical and structural factors can affect the pricing and confidence in US dollar assets, adding that its managing director didn’t say earlier this week that dollar assets are irreplaceable.

The Monetary Authority of Singapore’s Managing Director Chia Der Jiun cited the factors among three points he made at the Qatar Economic Forum on Tuesday, the central bank said in a statement that included an extended transcript of his comments.