Singapore’s exposure to Greece ‘negligible’: MAS

It accounts for just 0.2% of trade.

The Monetary Authority of Singapore said yesterday that the republic’s domestic money and foreign exchange markets continue to function in an orderly fashion despite the turmoil in Greece.

“The direct exposure of our economy and banking system to Greece is negligible, accounting for just under 0.2% of total trade and 0.1% of total banking system assets,” the MAS said.

However, the central bank cautioned that some uncertainty remains regarding the broader impact of continuing developments in Greece.

“MAS is closely monitoring developments in the Eurozone economy and global financial markets, and their potential impact on domestic markets and the economy,” MAS said.