Analysis of recent Singapore dollar → Baht forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Singapore dollar to Thai baht performance and trends.
Forecasts for SGD to THB
Based on recent forecasts and currency market updates, the Singapore dollar (SGD) is expected to maintain a stable trading range against the Thai baht (THB) in the coming months. In February, the SGD showed resilience against the US dollar, trading within a relatively narrow range and finishing the month only marginally lower. Despite some fluctuations, the SGD remained relatively steady amid mixed domestic economic data and influences from US inflation levels. The Monetary Authority of Singapore (MAS) keeping its monetary policy unchanged also provided support for the SGD, signaling confidence in the country's domestic economy.
On the other hand, the Thai baht's value has remained weak against the US dollar, hovering around the 34 level into the second quarter of 2023. However, with Thailand easing border controls and seeing an increase in tourist arrivals, there could be opportunities for the country's currency to strengthen. Additionally, as both Malaysia and Thailand are significant oil producers in Asia, movements in the oil market, which has seen prices hitting 90-day highs near $87.50 recently, could also impact the THB exchange rate. In the context of the SGD to THB exchange rate, with the current rate at 27.01 being above its 3-month average, future trends may be influenced by factors such as local economic conditions, global travel dynamics, and oil price movements. Traders and businesses with exposure to SGD-THB transactions should keep an eye on signals from the Federal Reserve, local inflation levels in Singapore, and developments in the oil market to make informed decisions.
@bestfxrates : 📈 SGD maintains stability vs THB, leveraging its resilience shown in Feb against USD. MAS's unchanged policy supports SGD. Despite THB's struggles, tourism & oil could catalyze strength. SGDTHB at 27.01, above the 3-mo avg. Monitor Fed signals & oil trends says market view. #SGDTHB #Forex #MAS #CurrencyMarket
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Date
SGD/THB
Change
Period
14 Mar 2024
26.77
0.9% ▲
2 Week
29 Dec 2023
25.89
4.3% ▲
3 Month
29 Mar 2023
25.72
5% ▲
1 Year
30 Mar 2019
23.40
15.4% ▲
5 Year
31 Mar 2014
25.79
4.7% ▲
10 Year
02 Apr 2004
23.37
15.5% ▲
20 Year
SGD/THB historic rates & change to 28-Mar-2024
Will the Singapore dollar rise against the Thai baht?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add SGD/THB to your personalised Rate Tracker to track and benefit from currency movements.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more