Recent forecasts for the SGD to THB exchange rate reflect a complex landscape influenced by various economic and geopolitical factors. The Singapore dollar has faced downward pressure due to the Monetary Authority of Singapore (MAS) implementing monetary policy adjustments aimed at supporting growth in a low inflation environment. Analysts observed that core inflation in Singapore decreased significantly to 0.6% in May 2025, contributing to the USD’s weakening position in the face of tariffs on key exports, further impacting the SGD.
At the same time, Bangkok has seen various developments bolstering the Thai baht's position. The baht appreciated by 2.2% against regional currencies during early December 2025, reflecting increased demand and relative strength amidst broader economic struggles. Moreover, the Bank of Thailand's recent interest rate cut of 0.25% to stimulate economic recovery is a notable shift in its monetary policy, which may enhance investor confidence in the THB. The Fiscal Policy Office’s forecast projecting the baht to average 31.8 per US dollar in 2026 suggests a positive long-term outlook, buoyed by a strong current account surplus and anticipated capital inflows.
Current exchange rate data indicates that the SGD to THB rate is trading at 24.21, which is 2.5% below its three-month average of 24.82. This suggests a period of relative stability within a narrow range of 4.7% over the past three months. Given the fluctuations in the oil market, especially with recent oil prices at $60.89—3.9% below their three-month average—any significant rise or fall in oil prices could have further implications for the SGD and THB, particularly through the lens of global economic recovery and trade dynamics.
Analysts generally suggest that the SGD could remain under pressure against the THB if Singapore’s economic conditions do not improve while the baht continues to gain traction. Currency traders and international businesses should closely monitor these ongoing developments for their potential impacts on exchange rates.
