Recent forecasts and market updates indicate a mixed outlook for the SGD to PHP exchange rate as of December 2025. Analysts have highlighted that the Singapore dollar (SGD) has shown resilience, supported by stronger-than-expected economic growth of 2.9% year-on-year in the third quarter of 2025. This growth enables the Monetary Authority of Singapore (MAS) to maintain a stable monetary policy despite easing measures earlier in January, aimed at mitigating potential trade-related risks.
In contrast, the Philippine peso (PHP) has faced significant downward pressure, recently depreciating to a record low of 59.262 per US dollar. The peso's weakness is primarily attributed to concerns over economic slowdowns linked to controversies surrounding infrastructure spending and subdued inflation, which has been steady at 1.7%. The Bangko Sentral ng Pilipinas (BSP) has adopted a market-determined exchange rate policy, impacting the peso's stability as it navigates potential interest rate cuts to stimulate growth.
The SGD to PHP exchange rate is currently trading at 14-day lows around 45.30, which is just above the three-month average and within a relatively stable range of 3.2%, from 44.34 to 45.77. This performance reflects the contrasting monetary conditions and economic outlooks of Singapore and the Philippines. Economists suggest that while the SGD may continue to receive support from a robust economic backdrop, the PHP could face further challenges if investor confidence remains shaken by ongoing economic and political issues in the Philippines. As such, businesses and individuals engaging in international transactions may need to monitor these developing factors closely, as they could influence exchange rate fluctuations in the short term.
