The Singapore dollar has been rising since 29 February and it has strengthened nearly 2.4% against the greenback by Friday.
Analysts say consistently low oil prices and a slowing Chinese economy hit the country's exports.
The exact figure will be revealed in Saturday's budget report. The increase last year was 10.1%.
The Nikkei Singapore Purchasing Managers' Index (PMI) for February was at 51.6, down from 52.5 in the previous month.
The analyst also said Budget 2016 is unlikely to have a greatly positive impact on markets and economic growth.
China's 37 million workforce in the state sector accounts for nearly 40 percent of the country's industrial production.
Adding to the problem of oversupply, many top dollar projects are nearing completion.
Yi Gang, the vice governor of China's central bank, had said on Sunday that said he is confident in the currency's fundamentals
Wang met with U.S. Treasury Secretary Jacob Lew and the Turkish counterpart Mehmet Simsek in Beijing on Sunday.
China urges the U.S. to stop playing up the situation.
SGX share prices rise as investors cheer the move.
China said it is keeping its reform plans intact and BoE's Mark Carney said central banks still have unused tools.
The workers who lost their jobs as part of capacity rationalization in industrial units will benefit from this move.
The move off the 6-year low hit last month to a 3-month high this month is only a slight correction.
With Wednesday's move, the Chinese currency is down nearly 0.7% from last week's levels.