MAS regulate Singapore 's monetary system via the foreign exchange mechanism , managing the Singapore dollar versus an undisclosed number of currencies , creating a Singapore dollar nominal effective exchange rate ( S $ NEER ) since 1981 instead of via interest rates like other central banks such as Federal Reserve System or Bank of England .
PROPN VERB PROPN PART ADJ NOUN ADP DET ADJ NOUN NOUN , VERB DET PROPN NOUN ADP DET ADJ NOUN ADP NOUN , VERB DET PROPN NOUN ADJ ADJ NOUN NOUN ( PROPN SYM PROPN ) SCONJ NUM ADV ADP ADP NOUN NOUN ADP ADJ ADJ NOUN ADJ ADP PROPN PROPN PROPN CCONJ PROPN ADP PROPN .