Singapore - As a result of recent currency fluctuations and rising inflation rates from this year's economic crisis, Singapore is now the 12th most expensive Asian city to live in.

Findings from ECA International's latest Cost of Living Survey show that Singapore is now ranked 12th in this year's Asia, and 95th in the global rankings. This was the result of the US dollar rebounding against the local currency and rising inflation.

However, living expenses in Singapore still trail behind Tokyo, now Asia's most expensive city for expatriates. Yokohama, Nagoya and Kobe take on the second to fourth slots respectively. The survey attributed it to the strengthening of the Japanese yen due largely to the unraveling of the carry trade.

It is also getting expensive to send staff to China as Beijing, in 5th position, is now the most expensive Chinese city for expatriates. The living cost disparity between Beijing and Singapore this year is an astonishing 15%, compared to a mere 5% difference last year.

The depreciation of the Korean won also meant that Seoul, which was ranked 1st in 2007, is now on par with Singapore in terms of living expenses.