How will a stronger Sing dollar affect HR?
The strengthening Sing dollar against the US greenback will have little impact on the relocation and expatriate decisions of companies, say two HR consultants Human Resources magazine spoke to. Last week, BNP Paribas SA’s senior foreign-exchange strategist forecasted that the Singapore dollar might rise to S$1.38 per dollar by July 2008. The French banking institution said that the appreciation in the dollar is likely to stem from the increase in tourism with events such as the Formula 1 race and the dollar will surpass the record high of $1.3835 of 1995. Mercer’s managing director, Su-Yen Wong said that the stronger dollar is will not dissuade companies from relocating their expatriates to Singapore, since the US currency has weakened significantly against other currencies and is not merely contained to Singapore alone. Wong said, “We don’t foresee the currency movements as being a significant factor in companies’ decisions on relocation of expatriates to Singapore. Decisions as to wh
