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Singapore Says Foreign Residents’ Deposits Fell by S$22 Billion

Bloomberg2023-04-28

Residents outside Singapore pulled billions in deposits last month amid financial turmoil triggered by the collapse of several banks globally. Foreign resident deposits saw an outflow of S$22.2 ...

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  • KinKat
    ·2023-04-28
    Banks are slow to raise deposit rates. Monies are flowing out to Govt Bonds, TBills & MMF (Money Market Fund) as these offers much better returns with low risk (or risk free for Govt Bonds / Bills)
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  • chaicka
    ·2023-04-28
    Hot Money Inflow has been too hot over last 6-9 months. It isn't a bad thing some of these hot money are outflow in March. Everything has trade-offs. Inflow huge amount of hot money last 12 months certainly has its impact and consequences to SG. Now outflow may well be a good thing, given it is relatively small amount and not massive short timeframe outward. China market has been improving since ease off COVID-19 measures and some of these may well be flowing back to ride the progressive growth wave there, just as some of us also moving funds there for investment. Narrow horizon folks will always narrate negatively. Focus on factual data, sound analysis, and research outcomes. [Tongue] 
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    • MoonJin
      ok
      2023-04-29
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    • kytphine
      thanks
      2023-04-29
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    • MeowKitty
      Ok
      2023-04-29
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  • LuckyPiggie
    ·2023-04-28
    0.3% interest in bank ... who wan to keep in banks as deposit [Speechless]  
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    • EV8
      WAh these few days sg stocks dropping [Spurting]
      2023-05-12
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    • EV8
      Didnt buy any laTely, u?
      2023-05-03
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    • EV8
      Yeah bro, how u doing? Im ok la, a little busy
      2023-05-03
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  • BitcoinMaxi
    ·2023-04-28
    This not only happend to SG but to the world. Investors realized their money is not so safe anymore in banks. The fact that banks are allowed to only retain 10% of your actual money and lend 90% of it to other as an investment and only pay minimal interest to depositors is legal scam. 
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  • kckckckckkck
    ·2023-04-28
    Flow back to HK.
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  • Nggimseng
    ·2023-04-28
    Nice
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  • Ares_M
    ·2023-04-28
    Well perhaps if they hadn´t pushed expats out and increased stamp duties to 60% among other things, Singapore would remain attractive as a place to place your money.
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    • chaicka
      Hundreds of Billions been flowing out from western countries such as Switzerland, UK, USA…
      2023-04-28
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    • chaicka
      Shallow & Narrow Horizons
      2023-04-28
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    • StreetCat
      [Comfort]
      2023-04-28
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