The exchange rate forecast for the Singapore Dollar (SGD) against the Swiss franc (CHF) reflects several key economic and policy developments in both countries. Recent decisions by the Monetary Authority of Singapore (MAS) have shaped the SGD outlook significantly. In April 2025, MAS eased monetary policy to support the economy amidst global trade uncertainties, lowering the S$NEER policy band appreciation rate. Despite this, the SGD showed some resilience with a quarter-on-quarter GDP growth of 1.4% in Q2 2025, allowing it to dodge a possible recession.
However, ongoing trade tensions, particularly the 10% tariffs imposed by the U.S. on imports from Singapore, could jeopardize the SGD's strength moving forward. Analysts caution that while the SGD has experienced growth recently, this may not be sustainable given the negative influences from international trade relations and economic headwinds.
On the Swiss side, the CHF has appreciated significantly, approximately 13% against the U.S. dollar, partly due to its safe-haven status amidst global uncertainties. However, the impacts of the recent U.S. tariffs, which have resulted in a 39% levy on Swiss goods, are beginning to show strain on the Swiss economy. The Swiss National Bank (SNB) has responded by lowering interest rates to zero, a move that may indicate concerns about low inflation and an overvalued CHF.
Given these dynamics, the SGD/CHF exchange rate has recently dropped to 30-day lows of 0.6208, which is 1.0% below its three-month average of 0.627. The range of trading has remained stable at 0.6197 to 0.6395 over the past months. Currency experts note that this low trading point reflects underlying pressures from both domestic economic conditions and international trade developments.
In summary, the current environment suggests volatility ahead for the SGD/CHF exchange rate, driven by both economic performance signals in Singapore and significant challenges posed by tariffs affecting Swiss exports. Stakeholders engaging in international transactions should monitor these developments closely, as they may impact currency conversion costs in the near future.
