Recent developments in both Singapore and the Philippines point to a complex landscape for the SGD to PHP exchange rate. Currency analysts indicate that the Singapore Dollar (SGD) may face mixed challenges while remaining bolstered by a relatively stronger economic performance. The Monetary Authority of Singapore (MAS) has maintained its monetary policy settings, supported by stronger-than-expected economic growth, which may lend stability to the SGD. However, the easing of policies earlier in January 2025 to counteract inflationary pressures might influence short-term fluctuations in the currency's value.
On the other hand, the Philippine Peso (PHP) has been under considerable pressure. In October 2025, it reached a record low against the US dollar, reflecting broader economic concerns tied to infrastructure spending and the potential for further monetary easing by the Bangko Sentral ng Pilipinas (BSP). Analysts predict that the peso's depreciation could continue, impacted by stagnant investor confidence stemming from ongoing corruption issues in infrastructure projects. The BSP's recent assertion that it would let market forces dictate exchange rates further complicates the outlook.
At present, the SGD to PHP exchange rate is trading at approximately 45.51, which is 1.1% above its three-month average of 45. This rate has exhibited stability within a range of 44.11 to 45.68 over the past few months. Forecasters suggest that should the PHP continue to weaken due to economic instability, alongside MAS's cautious approach to monetary policy, the SGD could strengthen further against the peso. However, shifts in sentiment regarding global trade tensions and domestic fiscal management in the Philippines are likely to continue influencing currency movements in the foreseeable future.
