Asian currencies, with the exception of a rare few, suffered major depreciation over the past few years.

The decline was broad-based with almost every currency in the region falling by at least 10% against the U.S. dollar and other major currencies.

One notable, heavily-traded currency was hit harder than most though: the Singapore dollar.

Many investors consider Singapore as a safe jurisdiction to store their wealth. It’s Southeast Asia’s unofficial financial hub and among the richest nations on the planet too.

The Singapore dollar nonetheless fell from recent highs of 1.20 against the U.S. dollar to 1.45 in early 2017. That’s a significant depreciation of more than 20%.

With that said, I’m now bullish on the Singapore dollar’s future after several years of steep decline. It’s now on an uptrend and should continue its rise well into the new decade.

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