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 to SGD at 0.9949has fallen 2.3% below its 90-day average, range 0.9949-1.0400.
Australian dollar to Singapore dollar in 2021
AUD/SGD has dropped back from its peak of 1.045 in February but remains slightly up since the start of 2021 and an impressive 15 percent since the depths of pandemic despair in March last year.
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.
Until the recent Fed Reserve pivot, the Australian dollar had benefited from the US dollar sell-off since late last year as investors moved away from the safe haven of the USD and into riskier assets. AUD Forecasts
The Singapore dollar has fallen to 8 month lows in late July on the surge in pandemic cases. The city state is recording the highest incidence of new cases of the virus in 11 months with growing clusters around nightlife venues and a major fishing port SGD Forecasts
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.
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