The exchange rate between the Singapore Dollar (SGD) and the Malaysian Ringgit (MYR) has seen notable developments recently, reflecting both currencies' individual economic circumstances and broader market dynamics. As of now, the SGD to MYR rate stands at 3.1852, which is 1.8% below its three-month average of 3.243. This indicates relatively stable trading behavior, with movements contained within a 3.8% range from 3.1735 to 3.2956.
Recent forecasts and updates indicate that the SGD is influenced by various factors including monetary policy adjustments from the Monetary Authority of Singapore (MAS). The MAS eased policies earlier in the year in response to global trade concerns and a downgraded GDP growth forecast, but later maintained its stance as stronger-than-expected economic growth emerged. Analysts observed that the SGD has exhibited safe-haven currency traits, gaining strength against the US dollar amid ongoing global trade tensions, which could impact demand for the SGD in regional markets.
Conversely, the MYR has experienced a resurgence, reaching a 13-month high, supported by a positive economic outlook bolstered by some strategic trade agreements following the ASEAN Summit. These agreements, particularly tariff exemptions with the US, are anticipated to enhance Malaysia's export prospects. Bank Negara Malaysia's commitment to keeping interest rates stable at 3% is also fostering investor confidence in the currency. Coupled with a resilient GDP growth of 5.2% in Q3 2025, the MYR's strength appears well-founded according to economists.
The current volatility in oil prices, with crude trading at $62.38—4.1% below the three-month average—could also impact both currencies since they are sensitive to oil market fluctuations. Given that Malaysia is a significant oil producer, any fluctuations in oil prices can directly affect the MYR's valuation.
Overall, the interplay between Singapore's economic performance and monetary policy, coupled with Malaysia's recent positive developments, suggests a complex yet stable outlook for the SGD to MYR exchange rate. Analysts recommend monitoring these dynamics closely as they evolve, especially considering the potential impact of external factors such as fluctuating oil prices.
