Forecasts and predictions for the AUD/SGD exchange rate change all the time, affected by news events and relative sentiment towards the Australian and Singapore economies. This continually updated article has any recent AUD to SGD bank forecasts, recent trends and historic rates for both currencies.
This is great news for individuals or businesses sending money to Singapore. However it is less so for any Australian expats living and earning in Singapore and sending money home to pay for an AU dollar mortgage. Also Singaporean students funding their Australian education will also be feeling the pinch of the weaker purchasing power of SGD in Australia.
Into 2021 AUD/SGD forecasts are primarily influenced by the perceived relative coronavirus impact on economies and the success of government’s response to the pandemic, both fiscally and in monetary policy.
Overall, it was a poor to mixed 2020 for the Singapore dollar, with a 9 percent drop against the euro and 8 percent versus the Australian dollar, but small gains (2 percent) against the US dollar and steady to the pound.
According to OFX, with the AUD continuing to enjoy higher highs and higher lows, their bias is for the AUD to enjoy further gains into 2021 on the back of USD weakness.
Whether the Singapore dollar will rise or drop in the future versus the Australian dollar is a difficult question and the answer really depends on many factors. The best way to consider the current AUD-SGD relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.
12 Apr 2021
20 Mar 2021
19 Jan 2021
19 Apr 2020
20 Apr 2016
22 Apr 2011
AUD/SGD 10 year historic rates & change to 19-Apr-2021 : 1.0318
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