Singapore, a hot spot for tourism in Southeast Asia, may begin to feel the heat of the currency turmoil afflicting neighboring economies as the cost for regional visitors to vacation in the island nation skyrockets.
The Indonesian rupiah, Malaysian ringgit and Indian rupee have tumbled between 4 and 14 percent against the Singapore dollar over the past two months, translating into higher holiday costs – from accommodation to food and entertainment – for inbound tourists.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.