The Singapore dollar jumped to 1.4877 against the U.S. currency during early deals on Friday. This set the highest point for the Singapore dollar since January 19. On the upside, 1.48 is seen as the next target level for the Singapore dollar. At yesterday's North American session close, the pair was quoted at 1.4982. Industrial production in Singapore contracted at a faster pace in March, reflecting a slump in the electronics and biomedical output, which together account for nearly half of the total production. A data released today by the country's Economic Development Board showed that industrial output plummeted 33.9% year-on-year in March, far worse than the 15.1% fall seen in February. Economists expected production to drop only 24%. Month-on-month, industrial output dipped 13.9% in March, on a seasonally adjusted basis, following a 3.5% rise in February. Economists expected a fall of 0.3%.

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