Singapore dollar SGD forecasts for 2020

Forecasts for the Singapore dollar change all the time, affected by news events and relative sentiment towards the Singaporean economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of SGD in the currency markets.

Singapore’s trade-reliant economy is teetering on the brink of a recession as the coronavirus pandemic weakens global trade and consumer spending.

There’s increased chance that the Monetary Authority of Singapore (MAS) could start to push the Singapore dollar lower via direct market interventions (ie the central bank actively buying and selling the Singapore dollar).

The MAS typically announces policy decisions twice a year, around the middle of April and October. There have been, out-of-cycle announcement in the past (January 2015) that can surprise markets.

SGD in the markets

At the end of March, Singapore's central bank eased its monetary policy, as widely expected, with the city-state's bellwether economy bracing for a deep recession due to the coronavirus pandemic.

The MAS said it would adopt a zero percent per annum rate of appreciation of the policy band starting at the prevailing level, currently slightly below the mid-point of the policy band.

The markets viewed this annoucement as showing the MAS has kept some fire-power in reserve and could intervene again to lower the SGD.

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.

Overall, it was a mixed 2019 for the Singapore dollar, with small gains (<2 percent) against the euro and Australian dollar, but small losses against the US dollar and pound.


SGD/EUR Recent 90-Day Trend

SGD/EUR at 0.6243 is near its 90-DAY average, range 0.6142 - 0.6407 .

You can also read our full Foreign Exchange Guide to Singapore.


In 2020 AUD/SGD forecasts are primarily influenced by the perceived relative coronavirus impact on economies and the success of government’s response to the pandemic.

Read more about FX Broker and Bank analysts' predictions for AUD to SGD future trends in our blog article AUD to SGD Forecast Review.


SGD/AUD Recent 90-Day Trend

SGD/AUD at 1.0324 is a little above its 90-DAY average, range 0.9963 - 1.0502 .
🔔 SGD/AUD is UP 2.5% this 7-DAY period and at 60-DAY HIGHS.
Alerts:7-DAY2.5% | 60-DAY HIGHS |

What is a good SGD dollar exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate’s relative value is to look at the rate’s history against a range of currencies and in particular against the currency you are interested in exchanging.

For example, the following tables look at the change in the SGD exchange rate to the present day for periods going back 10 years for popular SGD exchange rates.

SGD/USD rateChangePeriod
17 Sep 2020 : 0.73681.3% ▼1 Week
25 Aug 2020 : 0.73100.6% ▼30 Days
26 Jun 2020 : 0.71771.3% ▲90 Days
25 Sep 2019 : 0.72550.2% ▲1 Year
26 Sep 2015 : 0.70153.6% ▲5 Years
27 Sep 2010 : 0.75684% ▼10 Years

SGD/USD 10 year historic rates & change to 24-Sep-2020 : 0.7269

SGD/MYR rateChangePeriod
17 Sep 2020 : 3.04980.7% ▼1 Week
25 Aug 2020 : 3.04780.6% ▼30 Days
26 Jun 2020 : 3.06651.2% ▼90 Days
25 Sep 2019 : 3.04070.4% ▼1 Year
26 Sep 2015 : 3.08381.8% ▼5 Years
27 Sep 2010 : 2.338729.5% ▲10 Years

SGD/MYR 10 year historic rates & change to 24-Sep-2020 : 3.0297

Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.