The current exchange rate for SGD to PHP is 45.19, showing stability close to its three-month average of 44.92, with a modest variation in a range from 44.10 to 45.68. Analysts attribute this stability to several key factors impacting both currencies recently.
For the Singapore Dollar, the Monetary Authority of Singapore (MAS) implemented a policy easing earlier this year to mitigate global trade uncertainties, which initially weighed on the SGD. However, in October 2025, MAS noted stronger-than-expected economic growth, prompting an upward revision of the GDP forecast for 2025 to 1.5%-2.5%. This unexpected performance indicates a solid economic backdrop that might support the SGD against regional currencies, including the PHP. Moreover, the SGD has recently been viewed as a safe-haven asset in the wake of trade tensions, lending it some defensive strength amid market volatility.
Conversely, the Philippine Peso faces significant headwinds. With October inflation holding steady at 1.7%, the Bangko Sentral ng Pilipinas (BSP) is contemplating a rate cut, potentially in December, to bolster economic growth. This potential easing, against a backdrop of a depreciating peso, which recently hit a record low of 59.262 per USD, could further weaken the PHP. Analysts have also pointed to the peso's overvaluation as a long-standing issue affecting the competitiveness of the export sector, exacerbated by a considerable trade deficit.
While the current exchange rate presents some stability, market dynamics suggest that developments in both Singapore and the Philippines will continue to shape the SGD to PHP outlook. Analysts recommend monitoring ongoing economic indicators closely, particularly inflation rates and central bank policies, as they may directly influence exchange rate movements in the coming weeks.
