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The Singapore dollar, which has risen about 14 percent versus the U.S. dollar in the 12 months to June, is now being looked at, by some analysts, as the next safe haven currency.

“The currency belongs to a country that has a triple AAA rating and which is attractive to investors. The country is also fiscally healthy with a strong balance sheet,” Stuart Oakley, Head of Emerging Markets FX Trading at RBS, told CNBC.

“The Singapore dollar is definitely a new safe haven currency,” he said.

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