Singapore’s tourists can ‘live like kings’ in Bali or Bangkok thanks to soaring dollar

People in Singapore are jumping on the opportunity, according to luxury travel agent Lauren Raps. The co-founder of Alchemist Travel says her clients are getting out of town more frequently – and are quick to make deposits on bookings.

“Their dollar goes further and they can live like kings” in places like Bali, Indonesia, or Bangkok, she said. “Dining out here can be quite expensive.”

Underpinning the currency’s advance to 1.30 per dollar is a monetary policy regime that uses the exchange rate, rather than borrowing costs, as its main lever. Economic slack in China – Singapore’s biggest trading partner – is boosting the latter’s currency on a relative basis. So does trade tension between Beijing and Washington. The International Monetary Fund has flagged upside risks to inflation in the country – those make it beneficial to keep the currency strong.