The exchange rate forecast for the Singapore Dollar (SGD) against the Qatari Riyal (QAR) appears cautiously optimistic in light of recent economic developments. Analysts have observed that the SGD is currently trading at 2.8003, which is only 0.8% below its three-month average of 2.8235. This suggests a stable performance within a relatively narrow range, between 2.7837 and 2.8546, indicating limited volatility.
Recent updates indicate that Singapore's economy is showing resilience, with GDP growth surpassing expectations at a rate of 2.9% year-on-year in Q3 2025. The Monetary Authority of Singapore's (MAS) decision to maintain its current monetary policy reinforces this confidence amid global uncertainties. Furthermore, the MAS has revised its core inflation forecast downward, suggesting easing inflationary pressures, which may further support the SGD.
On the other hand, the QAR's position may be impacted by various domestic economic factors. A significant increase in Qatar's international reserves and liquidity supports the currency's stability. However, potential moderation in the value of the US dollar, as anticipated by Qatar National Bank (QNB), may influence the QAR's exchange dynamics with the SGD.
The correlation with oil prices remains important, as oil is a key factor in Qatar's economy. Currently, oil prices are trading at $63.63 per barrel, which is 3.4% below the three-month average of $65.86. The volatility seen in oil prices, ranging from $60.96 to $70.13, could impact the QAR in the short term due to the economy's reliance on oil revenue.
In conclusion, while the SGD shows signs of stability and growth, the QAR is also positioned well, supported by domestic measures and foreign liquidity. Market participants should monitor these developments closely, as they could significantly influence the SGD to QAR exchange rate in the coming months.
