The recent analysis of the INR to SGD exchange rate reveals that both currencies are currently facing significant pressures due to geopolitical events and economic policy decisions. The Indian Rupee (INR) has seen continued depreciation, reaching a record low of 88.8000 against the U.S. dollar, primarily driven by escalating trade tensions with the United States. Analysts attribute this decline partly to new U.S. tariffs on Indian exports and increased fees associated with H-1B visas. Despite this weakening trend, some forecasters speculate that the Reserve Bank of India (RBI) may consider a rate cut in its upcoming meetings to support economic growth, although consensus indicates that rates will likely remain unchanged at 5.50%.
In contrast, the Singapore Dollar (SGD) has faced its own challenges, including adjustments to its monetary policy by the Monetary Authority of Singapore (MAS). The MAS initiated easing measures in early 2025, reducing the rate of appreciation of the Singapore dollar's nominal effective exchange rate. These moves were prompted by slower-than-expected inflation and a downgraded growth forecast for Singapore, which now ranges between 0% to 2%. Economic analysts point out that these policies are indicative of the MAS's proactive strategy to mitigate the external shocks arising from U.S. tariffs and declining demand in Singapore's manufacturing and services sectors.
Recent price data indicates that the INR to SGD exchange rate stands at 0.014535, which is about 1.0% lower than its three-month average of 0.014688. This figure illustrates the relative stability observed in the exchange rate, operating within a narrow range of 3.5% between 0.014447 and 0.014948 over the past months.
As the RBI's initiatives to enhance the international utility of the rupee gain traction, attention will remain on how these measures, alongside global economic conditions, might influence the INR's performance. Meanwhile, the MAS’s adjustments to its monetary policy will be crucial in stabilizing the SGD as Singapore navigates the fallout from ongoing trade tensions. Monitoring these developments will be vital for businesses and individuals engaged in international transactions, as fluctuations in these currencies may present opportunities or challenges in cross-border dealings.
