The Monetary and Domestic Markets Management Department is responsible for implementing Singapore’s monetary policy by managing the exchange rate within its targeted policy band, conducting money market operations to manage liquidity in the banking system, and issuing Singapore Government Securities. The department is also responsible for maintaining the stability and functionality of the foreign exchange and money markets in Singapore, as well as fostering the development of Singapore dollar markets. The department works closely with the Technology Group on the markets information infrastructure necessary to support its activities.