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Singapore dollar SGD forecasts for 2021

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.

 

What’s in this Singapore dollar forecast summary?

  1. Market News
  2. Trends & Alerts
  3. Transfer Rates
  4. Historic Rates

SGD in the 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.

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


 

SGDEUR at 0.6247 is near its 90-day average, range 0.6183-0.6341.
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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.

SGD/USDChangePeriod
0.7460
12 Apr 2021
0.8% ▲1 Week
0.7451
20 Mar 2021
0.9% ▲30 Days
0.7531
19 Jan 2021
0.2% ▼90 Days
0.7020
19 Apr 2020
7.1% ▲1 Year
0.7440
20 Apr 2016
1% ▲5 Years
0.8100
22 Apr 2011
7.2% ▼10 Years

SGD/USD 10 year historic rates & change to 19-Apr-2021 : 0.7518

SGD to USD – Compare and Save

SGD/MYRChangePeriod
3.0833
12 Apr 2021
0.5% ▲1 Week
3.0605
20 Mar 2021
1.3% ▲30 Days
3.0483
19 Jan 2021
1.7% ▲90 Days
3.0678
19 Apr 2020
1% ▲1 Year
2.8819
20 Apr 2016
7.6% ▲5 Years
2.4356
22 Apr 2011
27.3% ▲10 Years

SGD/MYR 10 year historic rates & change to 19-Apr-2021 : 3.0999

SGD to MYR – Compare and Save

SGD/AUDChangePeriod
0.9781
12 Apr 2021
1% ▼1 Week
0.9629
20 Mar 2021
0.6% ▲30 Days
0.9762
19 Jan 2021
0.8% ▼90 Days
1.1081
19 Apr 2020
12.6% ▼1 Year
0.9544
20 Apr 2016
1.5% ▲5 Years
0.7541
22 Apr 2011
28.5% ▲10 Years

SGD/AUD 10 year historic rates & change to 19-Apr-2021 : 0.9687

SGD to AUD – Compare and Save

 

   
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.