What If
Let us assume for one second that Singapore had kept the value of her currency against one USD at its average rate of 2.2002 for 1985. Not a bad objective as combined with positive growth rates generated by adjustments in the real economy her people would have felt a lot richer when going abroad for holidays or to grab companies and ideas to move forward as a nation. If she had kept the value of her currency constant at that level then at the end of 2015 her GDP per capita would have been $33,047. Quite a number don’t you think?