Beware credit crunch in emerging markets

The Singdollar has become “everyone’s favourite currency to short in Asia”, as Citigroup strategist Siddharth Mathur puts it. Some banks are even willing to offer higher than Sibor – the interest rate at which banks lend to each other – to try and lure their well-heeled clients to continue to park their Singdollar funds with them.
PHOTO: The Straits Times

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