The recent exchange rate forecasts for the Singapore Dollar (SGD) to Thai Baht (THB) reflect several important economic developments and market dynamics. As of November 2025, the SGD trades at approximately 24.98 THB, slightly below its three-month average, within a stable range of 24.61 to 25.36 THB. This stability occurs amid Singapore's recent monetary policy adjustments by the Monetary Authority of Singapore (MAS), which have influenced the SGD's trajectory. In April 2025, MAS eased its monetary policy to support economic growth in light of global trade uncertainties, specifically lowering the rate of appreciation of the nominal effective exchange rate.
In terms of economic performance, Singapore's GDP growth rebounded to 2.9% year-on-year in Q3 2025, prompting MAS to adjust its growth forecasts upward. This suggests potential strength in the SGD, particularly as it gains recognition as a safe-haven currency during periods of financial stress.
Conversely, the Thai Baht has experienced a strong appreciation, reaching a four-year high. The Thai government and the Bank of Thailand (BoT) have taken significant steps to counteract this strength, which poses challenges to the export and tourism sectors. The BoT's interventions and considerations of a gold trading tax aim to stabilize the currency's value, reflecting a proactive approach in managing economic impacts caused by currency strength.
Further influencing the SGD/THB exchange rate is the recent trend in oil prices, currently at 64.29 USD, which is 2.1% below its three-month average. Oil price fluctuations can significantly affect THB given Thailand's reliance on oil imports, potentially impacting its overall economic performance and currency strength.
Overall, dynamics such as Singapore's economic resilience and MAS's response to growth forecasts, alongside Thailand's efforts to address the strong baht, suggest that the SGD to THB exchange rate is poised for relative stability amid these shifting economic landscapes. Analysts and market experts remain cautious, emphasizing the importance of ongoing developments in both regional monetary policies and global economic conditions.
