The recent outlook for the CHF to SGD exchange rate reflects a mix of domestic challenges and external influences. As of early December 2025, the Swiss franc (CHF) has experienced downward adjustments in forecasts from analysts, notably UBS, which have revised their projections for the EUR/CHF exchange rate from 0.95 to 0.93 for September and 0.94 through June 2026. This is attributed to Switzerland's robust fundamentals amidst ongoing global uncertainties that maintain the CHF's appeal as a defensive currency.
A major factor impacting the CHF is the reduction of U.S. tariffs on Swiss goods from 39% to 15%. This significant cut is expected to decrease the average tariff burden on Switzerland, potentially boosting its export economy and providing annual savings of about $6 billion. However, the Swiss National Bank (SNB) is bracing for ongoing challenges, having reported a significant loss of CHF 15.3 billion for the first half of 2025. The governing body is projected to maintain its current interest rate of 0%, as recent inflation figures have dropped to 0%, a situation that economists feel does not warrant a shift to negative rates.
In contrast, the Singapore dollar (SGD) is currently benefiting from stronger-than-expected economic performance, with a reported expansion of 2.9% year-on-year in Q3 2025. The Monetary Authority of Singapore (MAS) has adjusted its monetary policy slightly to support this growth, allowing for a more gradual appreciation of the SGD. Analysts previously anticipated that the MAS might ease monetary policy further due to rising trade tensions and potential tariffs on key exports, but the latest data suggests a resilient economic landscape.
Presently, the CHF to SGD exchange rate stands at 30-day highs near 1.6258, just above its three-month average, having remained stable within a 2% range from 1.6082 to 1.6405. This positioning indicates a complex interplay between the fundamental shifts impacting both currencies.
In summary, while the CHF faces challenges linked to tariff changes and SNB policy, the SGD shows strength bolstered by solid economic performance. Analysts will continue to monitor these developments closely, as they dictate potential movements in the CHF to SGD exchange rate going forward.
