Singapore Prime Minister Lawrence Wong rejected the idea of weakening the Singapore dollar to boost competitiveness, saying the country must rely on its economic strengths. He argued that if the economy performs well, the currency will stay strong and stable, helping to keep imported inflation down. Speaking at DBS's Asia Future Forward Conference, Wong acknowledged that a stronger currency raises business costs and that Singapore is not the cheapest location in Southeast Asia. He said companies seek capabilities, stability and predictability rather than the lowest cost. The Singapore dollar has strengthened almost 0.4% against the greenback since the start of the year.
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