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.
BER ResearchSingapore Dollar Outlook
SGD could trade against the USD between 1.35 – 1.39 SGD for the month of October.
| SGD/USD was | Change | Period |
|---|---|---|
0.7368 04 Oct 2021 | 0.6% ▲ | 2 Weeks |
0.7319 20 Jul 2021 | 1.3% ▲ | 90 Days |
0.7364 18 Oct 2020 | 0.6% ▲ | 1 Year |
0.7214 19 Oct 2016 | 2.7% ▲ | 5 Years |
0.7850 21 Oct 2011 | 5.6% ▼ | 10 Years |
0.5476 23 Oct 2001 | 35.3% ▲ | 20 Years |
SGD Forecasts
The challenges posed by a strengthening USD buoyed by taper talks and turmoil brewing in the Evergrande saga will continue to weigh on the SGD, potentially limiting any further upside.
Singapore’s trade-reliant economy has teetered on the brink of a recession as the stop-start coronavirus lock-downs have weakened consumer spending.
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.
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 0.9965 has fallen 1.3% below its 90-day average, range 0.9963-1.0294. SGD/AUD Rates
The AUD has dropped against changing expectations around US Federal Reserve policy and a less positive outlook for global growth and Chinese demand for iron ore.
AUD/SGD is still well below its 2021 peak of 1.045 in March. Changing expectations around US Federal Reserve policy and a less positive outlook for global growth have weighed on the Aussie to Singapore rate this year.
However, increased gas and coal prices heading into the northern winter have helped the AUD/SGD rate to rise back above the 0.99 level.
AUD-SGD OutlookSGD to INR
SGD to INR at 55.73 has risen 1.7% above its 90-day average, range 54.28-55.74. SGD/INR Rates
SGD to MYR
SGD to MYR at 3.0996 is near its 90-day average, range 3.0705-3.1302. SGD/MYR Rates
SGD to USD
SGD to USD at 0.7430 is 0.5% above its 90-day average, range 0.7320-0.7457. SGD/USD 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.