The Singapore dollar has reached its highest level in nearly ten years against the US dollar, reflecting growing investor confidence in Asian markets. The currency strengthened by 0.3 percent to 1.2684 per US dollar, marking its strongest position since October 2014. The rise occurred amid expectations that Singapore’s central bank will maintain its current policy stance, while global pressure on the US dollar increased due to potential currency interventions by Japan and signals from the United States.

Analysts noted that the US dollar came under pressure following the New York Federal Reserve’s interest rate review on January 23, which also led to a 1.2 percent rise in the Japanese yen. Other Asian currencies benefited as well, with Malaysia’s ringgit reaching its highest level since 2018 and South Korea’s won hitting a three-week peak. Experts highlighted that Singapore’s monetary authority focuses more on exchange rate management than interest rates, supported by stable economic policies, a strong stock market, and a reliable government bond market.

Over the past year, the Singapore dollar has gained about 6 percent against the US dollar. Analysts believe that Singapore’s consistent and stable policies could help sustain the currency’s strength despite global uncertainties.

Singapore’s Central Narcotics Bureau (CNB) arrested 12 foreign workers, including 11 Bangladeshis and one Myanmar national, during a four-hour anti-drug operation at a residential building in the Woodlands area. The raid, conducted on Thursday night with support from the Health Sciences Authority, Immigration and Checkpoints Authority, Ministry of Manpower, and police, targeted individuals suspected of drug use and trafficking. A 34-year-old Bangladeshi was detained on charges of drug trafficking and consumption. Authorities seized drug-related paraphernalia such as glass bottles, cut straws, and rubber tubes from the dormitory rooms. CNB Deputy Commanding Officer Superintendent Xanthus Tong Hiong Gee said the operation was part of ongoing efforts to combat drug abuse across Singapore. According to CNB data, 3,119 drug users were arrested in 2024, slightly down from 3,122 in 2023, though the number of new users rose to 966 from 952 the previous year.

Singapore will launch a "Business Adaptation Grant" in October to support companies facing challenges due to U.S. tariff-related uncertainties. The initiative, led by the Singapore Economic Resilience Taskforce (SERT), will provide up to SGD 100,000 per company, with SMEs prioritized. The grant will help cover costs for legal and trade consultations, supply chain improvements, and market diversification. Additionally, it will support workforce training to enhance adaptability in a shifting global trade environment.