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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.

    Updated: Oct 09, 2021  
     

    1 SGD = 0.7295 USD
    Sell SGD  →  Buy USD
    SGD to USD at 0.7290 has fallen 1.3% below its 90-day average, range 0.7286-0.7457.
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      1 USD = 1.3709 SGD
     
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    Singapore Dollar Outlook

    We can expect a volatile outlook for SGD against major currencies in October as Singapore’s Central Bank, the MAS, is expected to release their policy statement with views on the trajectory of the SGD.

    SGD could trade against the USD between 1.35 – 1.39 SGD for the month of October.

    SGD/USD wasChangePeriod
    0.7346
    19 Nov 2021
    0.8% 2 Weeks
    0.7455
    04 Sep 2021
    2.3% 90 Days
    0.7497
    03 Dec 2020
    2.8% 1 Year
    0.7025
    04 Dec 2016
    3.7% 5 Years
    0.7784
    06 Dec 2011
    6.4% 10 Years
    0.5464
    08 Dec 2001
    33.3% 20 Years
    SGD/USD change over periods to 03-Dec-2021

    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 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsSGD to AUD at 1.0402 has risen 2.9% above its 90-day average, range 0.9860-1.0419. 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 Outlook

    SGD to INR

    SGD to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsSGD to INR at 54.85 is just below its 90-day average, range 54.46-55.86. SGD/INR Rates

    SGD to MYR

    SGD to MYR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsSGD to MYR at 3.0844 is near its 90-day average, range 3.0647-3.1020. SGD/MYR Rates

    SGD to USD

    SGD to USD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsSGD to USD at 0.7290 has fallen 1.3% below its 90-day average, range 0.7286-0.7457. SGD/USD Rates

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    Posted under: #Forecasts #SGD

    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.