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.
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.
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.
At the end of March 2020, 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.
SGDEUR at 0.6247is near its 90-day average, range 0.6183-0.6341.
What is a good Singapore dollar exchange rate?
Whether the Singapore dollar will rise or drop in the future 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.
12 Apr 2021
20 Mar 2021
19 Jan 2021
19 Apr 2020
20 Apr 2016
22 Apr 2011
SGD/USD 10 year historic rates & change to 19-Apr-2021 : 0.7518
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