Strong Singapore dollar forces state bank to post loss for year

( – Singapore’s central bank Thursday announced an annual net loss of SG$10.9 billion (US$8.9 billion) as the strong local dollar sent it into the red for just the second time in its 40-year history. The net loss for the year to March came as the city’s currency hit record highs against the greenback and also jumped against the euro, driving down the value of the monetary authority of Singapore’s foreign asset holdings.

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