Singapore dollar SGD forecasts
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.
BER ResearchSingapore Dollar Outlook
Singapore dollar has risen against most currencies in 2022 (except the strong USD) as the Monetary Authority of Singapore (MAS) re-centered the currency band higher in April, to combat the rapidly raising rate of inflation in the island state.
Goldman Sachs & RBC both see the Singapore dollar rising the most among Asian currencies, along with Thailand’s baht.
| Date | SGD/USD | Change | Period |
|---|---|---|---|
13 Sep 2022 | 0.7111 | 2.2% ▼ | 2 Week |
29 Jun 2022 | 0.7180 | 3.2% ▼ | 3 Month |
27 Sep 2021 | 0.7384 | 5.9% ▼ | 1 Year |
28 Sep 2017 | 0.7359 | 5.5% ▼ | 5 Year |
29 Sep 2012 | 0.8147 | 14.7% ▼ | 10 Year |
02 Oct 2002 | 0.5601 | 24.1% ▲ | 20 Year |
Factors that affect the Singapore dollar exchange rate
The SGD has weakened 4% against the dollar in 2022, but has strengthened against all other Asian currencies except the Hong Kong dollar (HKD is semi-fixed to the USD).
People see the Singapore dollar as a safe haven, so it is often compared to Switzerland, the “Switzerland of Asia.”
In 2022 as interest rates rise proceed in the US, the greenback has been strong against most currencies but less so versus SGD. This could be because the Monetary Authority of Singapore (MAS) has already intervened ahead of time.
Singapore’s trade-reliant economy has teetered on the brink of a recession as the stop-start coronavirus lock-downs have weakened consumer spending.
Due to the city-state’s reliance on trade, unlike most central banks, the MAS uses currency intervention as its main economic management tool.
The MAS typically announces policy decisions twice a year, around the middle of April and October.
Overall, it was a positive 2021 for the Singapore dollar, with 5 percent gains against the euro and also the Australian dollar, but a small loss (2 percent) against the US dollar and steady to the pound.
You can also read our full Foreign Exchange Guide to Singapore.
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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.
SGD to AUD
SGD to AUD at 1.0812 is 3.3% above its 90-day average 1.0469 with range 1.0234-1.0834. SGD/AUD Rates
AUD/SGD hit a recent peak of 1.03 in early April but the Aussie/Sing dollar rate has since dropped to below 0.96 as optimism goes missing around China’s COVID policies.
Before this latest blow, commodity-linked currencies such as the Aussie dollar had been moving up as Russia’s tragic actions in Ukraine push up demand for oil and other natural resources.
SGD to MYR
SGD to MYR at 3.1973 is just below its 90-day average 3.2049 with range 3.1439-3.2554. SGD/MYR Rates
SGD to INR
SGD to INR at 56.66 is just 0.8% below its 90-day average 57.09 with range 56.24-58.16. SGD/INR Rates
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Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.