The SGD to INR exchange rate is currently bullish.
The outlook is influenced by key factors including the interest rate differential, as the Monetary Authority of Singapore maintains supportive monetary policy while India's rupee faces depreciation pressures. Recent forecasts indicate a robust economic growth trajectory for Singapore, likely benefiting the SGD further. On the other hand, the Indian rupee is expected to weaken against the USD, creating additional downward pressure.
In the near term, the SGD to INR is anticipated to trade within a stable range, reflecting the recent high of 70.02, well above its three-month average.
An upside risk to this outlook could stem from stronger-than-expected economic recovery in India or strategic market interventions, while a downside risk includes continuations of foreign capital outflows from India, potentially exacerbating the INR's depreciation.