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.
BER Research AUD/SGD hit a recent peak of 1.03 in April but the Aussie/Sing dollar rate has since dropped below 0.90 as market optimism for the Aussie dollar has drastically as the year played out.
| Date | AUD/SGD | Change | Period |
|---|---|---|---|
18 Nov 2022 | 0.9185 | 0.1% ▲ | 2 Week |
03 Sep 2022 | 0.9555 | 3.8% ▼ | 3 Month |
02 Dec 2021 | 0.9705 | 5.3% ▼ | 1 Year |
03 Dec 2017 | 1.0239 | 10.2% ▼ | 5 Year |
04 Dec 2012 | 1.2754 | 27.9% ▼ | 10 Year |
07 Dec 2002 | 0.9924 | 7.4% ▼ | 20 Year |
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Earlier in the year, commodity-linked currencies such as the Aussie dollar had been moving up as Russia’s tragic actions in Ukraine pushed up demand for oil and other natural resources.
The Aussie weakness 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.
The Aussie dollar is a proxy in the markets for risk appetite, so the AUD tends to go up and down depending on how confident traders are about growth prospects for the world economy. In particular any increase in construction creates demand for iron ore, this is positive for AUD being Australia’s major export commodity.
Overall, it has been a positive 2022 for the Singapore dollar, with 10 percent gains against the euro and the pound, 5 percent gains vs the Australian dollar, but a 5 percent against a strong US dollar.
The Aussie dollar rebounded from around US62¢ in October and November on the suggestion that the RBA would slow the pace of interest rate hikes.
However, economists are divided as to whether this change in fortunes for the Australian dollar will continue into the new year.
Singapore dollar has risen against most currencies in 2022 (except the strong USD) as the Monetary Authority of Singapore re-centered the currency band higher in April, to combat the rapidly raising rate of inflation in the island state.
Goldman Sachs & RBC both see the Singapore dollar rising the most among Asian currencies, along with Thailand’s baht.
You can read more about Aussie and Sing dollar forecasts in articles AUD Trends and Forecasts and SGD Trends and Forecasts .
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.