The CHF to SGD exchange rate currently stands at 1.6154, aligning closely with its three-month average, having fluctuated within a stable 3.2% range from 1.5843 to 1.6349. Recent developments suggest that the Swiss Franc may face continued pressure due to significant external factors, notably U.S. tariffs imposed on Swiss exports. This 39% tariff, introduced by former President Trump, has already led to a decline in the Swiss stock market and a slump in the economy, specifically targeting Switzerland's export-led sector.
Analysts indicate that the Swiss National Bank (SNB) has increased foreign currency purchases to 5.06 billion CHF in Q2 2025 as a direct response to the currency's appreciation following these tariffs. Despite these interventions, forecasts suggest that the SNB will keep interest rates at 0.00% through 2026, as steady inflation and a stable franc contribute to this outlook. However, negative pressures, such as recent deflation—evident from a 0.1% drop in the Consumer Price Index—could complicate the overall economic scenario for the Swiss Franc.
In contrast, the Singapore Dollar is buoyed by a resilient economy, with the Monetary Authority of Singapore (MAS) maintaining its monetary policy amid strong GDP growth of 2.9% in Q3 2025, surpassing forecasts of 1.9%. This economic positivity is reflected despite a downward revision in the core inflation forecast, indicating easing inflationary pressures which may strengthen the SGD. Analysts speculate that MAS may adjust its exchange-rate policy to counteract potential U.S. tariffs that could affect trade in key sectors.
Given these contrasting trajectories, currency market observers may find the Singapore Dollar gaining ground against the Swiss Franc in the near term, particularly if Swiss economic vulnerabilities persist. While recent CHF/SGD trading has remained stable, the forecast leans towards potential volatility influenced by external trade pressures and domestic economic responses in both Switzerland and Singapore. Businesses and individuals engaged in international transactions should remain vigilant regarding these developments to optimize their currency exchanges.
