Monetary Authority of Singapore plays Santa Claus

Admittedly, the Christmas season is a time for generosity but not foolhardiness. As such, MAS preserved the existing limits of the development of an offshore market for the SGD, retaining the SGD5 million ($2.88 million) limit on the amount of funds that can be lent offshore. The need to preserve control over it s primary tool of monetary policy - the SGD trade weighted index - therefore delimits MAS s willingness to liberalize.