Andrea:
And then no one wants to buy your stuff. So when we spend that money, then it becomes a benefit to us overseas. And that’s why we saw so many Singaporeans traveling, because our Singdollar was stronger than say, the Japanese yen. Is that a good example of how it benefits us in return?
Jeff:
Yes, but on the other hand, it is also bad for the economy, right? Because instead of spending in Singapore and boosting retail sales, you are spending overseas.
Andrea:
How does a stronger dollar affect our investments? And if the S$NEER is adjusted to weaken the currency, how do we then make our portfolio adjustments, if any?
Jeff:
So if the Singapore dollar is so strong, when other countries think about investing in Singapore, they do not have so much to convert to Singapore dollars. It’s too strong. So I think, of course, it has to be at a balanced level.
