The exchange rate forecasts for the Singapore Dollar (SGD) relative to the Philippine Peso (PHP) suggest a nuanced outlook influenced by recent economic developments in both countries. As of November 2025, the SGD trades at approximately 45.07 PHP, remaining stable and just 0.5% above its three-month average of 44.85, with fluctuations confined to a 3.6% range.
In Singapore, the Monetary Authority of Singapore's (MAS) decision to ease monetary policy earlier in the year was aimed at stimulating growth in response to global trade uncertainties. However, a positive economic uptick in Q3 2025, with GDP growth of 2.9%, led MAS to cautiously revise its growth forecast upwards, which may lend some strength to the SGD. Analysts point out that the SGD has also gained characteristics of a safe-haven currency amidst global tensions, a factor that could further enhance its demand in uncertain markets.
Conversely, the Philippine Peso faces challenges, exacerbated by economic concerns and a record low exchange rate against the US dollar. A stable inflation rate of 1.7% in October has paved the way for potential interest rate cuts by the Bangko Sentral ng Pilipinas (BSP), which may devalue the peso further. Economists indicate that the peso has been overvalued, impacting competitiveness in the manufacturing sector and contributing to a significant trade deficit.
The interplay of these factors—the easing of Singapore's monetary policy against the backdrop of improving economic forecasts, alongside the Philippines' potential monetary easing and prevailing economic issues—suggests a likely range-bound movement for the SGD to PHP exchange rate in the near term. Stakeholders in international transactions should consider these developments for effective currency management strategies.
