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.
AUD/SGD is still well below its 2021 peak of 1.045 in March. Changing expectations around US Federal Reserve policy and a less positive outlook for global growth have weighed on the Aussie to Singapore rate this year.
However, increased gas and coal prices heading into the northern winter have helped the AUD/SGD rate to rise back above the 0.99 level.
04 Oct 2021
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The Aussie weakness since Q2 into Q4 is great news for individuals or businesses sending money from Singapore to Australia. For example Australian expats living and earning in Singapore and sending money home to pay for an AU dollar mortgage will benefit. Also Singaporean students funding their Australian education will also feel the stronger 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.
The emergence of Evergrande and other significant roadblocks such as energy shortages in Europe and China impacting the global economic recovery throughout September prompted a shift in the underlying risk narrative, causing unfavourable conditions for commodity currencies like the AUD. AUD Outlook
We can expect a volatile outlook for SGD against major currencies in October as Singapore’s Central Bank, the MAS, is expected to release their policy statement with views on the trajectory of the SGD.
SGD could trade against the USD between 1.35 – 1.39 SGD for the month of October.SGD Outlook
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.