Thursday, April 10, 2008

What does S$NEER Stands for?

Singapore dollar nominal effective exchange rate: S$NEER

According to Monetary Authority of Singapore (MAS), Singapore is to continue tightening its monetary policy and therefore re-centre the exchange rate policy band at the prevailing level of the S$NEER.

http://www.mas.gov.sg/news_room/statements/2008/Monetary_Policy_Statement_10Apr08.html

What does NEER means?

From investopedia, NEER means

"The unadjusted weighted average value of a country's currency relative to all major currencies being traded within an index or pool of currencies. The weights are determined by the importance a home country places on all other currencies traded within the pool, as measured by the balance of trade."

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