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.
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.
As we start the the new year AUD/SGD is up over 8 percent since the start of 2020 and an impressive 18 percent since the depths of pandemic despair in March.
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.
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.
With the AUD continuing to enjoy higher highs and higher lows, our 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 Jan 2021
|0.6% ▼||1 Week|
20 Dec 2020
|1.3% ▲||30 Days|
21 Oct 2020
|6.2% ▲||90 Days|
20 Jan 2020
|10.5% ▲||1 Year|
21 Jan 2016
|1.9% ▲||5 Years|
22 Jan 2011
|19.5% ▼||10 Years|
AUD/SGD 10 year historic rates & change to 19-Jan-2021 : 1.0230