The SGD to QAR exchange rate is currently leaning bearish.
Key drivers include the recent interest rate cuts by the Qatar Central Bank, aligning with global trend expectations. Additionally, Singapore’s stable economic growth supports the Singapore dollar, with private-sector forecasts for 2026 improving.
In the near term, the SGD to QAR is expected to trade within a stable range, reflecting activity around a 2.83 target. This is only slightly above its recent average, indicating limited volatility.
Upside risks for the SGD involve a stronger rebound in global economic conditions, potentially boosting demand for non-oil exports. On the downside, fluctuating oil prices may significantly impact the QAR, particularly as they are currently at seven-day lows and well below their three-month average. This creates uncertainty for the QAR's position against the SGD.