While a stronger Singdollar makes overseas travel and imports cheaper, not every business is celebrating. From retailers and restaurants losing customers to cross-border spending, to importers benefiting from lower costs, the impact is far from equal.

So who's winning, who's losing, and could an even stronger Singapore dollar create new challenges for businesses, tourism and exporters? We break down the trade-offs behind Singapore's strong currency and what it means for businesses and consumers in the months ahead.

On The Big Story, Hongbin Jeong speaks with Ang Yuit, president of the Association of Small and Medium Enterprises, to unpack what a stronger Singapore dollar really means for Singapore's economy.