The exchange rate forecast for the Singapore Dollar (SGD) to New Taiwan Dollar (TWD) presents a nuanced picture amid recent economic developments in both regions. Currently, the SGD to TWD rate has recently settled near 24.14, which is a minor 1.7% increase over its three-month average of 23.75. This suggests a stable trading range, fluctuating between 23.49 and 24.24 over the past few months.
Recent monetary policy adjustments by the Monetary Authority of Singapore (MAS) have contributed to this dynamics. In January 2025, MAS opted for a more accommodative stance, easing its policy by reducing the appreciation slope of the SGD. This decision was in response to lower-than-expected inflation and aimed to stimulate economic growth. However, in October 2025, MAS maintained its existing policy as Singapore experienced stronger-than-expected growth, expanding by 2.9% year-on-year in Q3, exceeding market predictions.
On the other side, the New Taiwan Dollar has benefited from Taiwan's unexpectedly robust economic growth forecast, with projections indicating a growth rate of 7.37% in 2025, primarily driven by the rising global demand for AI technology. This optimism about Taiwan's economy has the potential to support the TWD against the SGD, particularly as ongoing trade negotiations with the U.S. aim to reduce tariffs on exports. Furthermore, the reaffirmation of stable currency policies by both Taiwan's central bank and the U.S. Treasury emphasizes a commitment to avoid competitive devaluation, which could further bolster the TWD's position.
While the SGD has recently faced some downward pressures due to external factors such as trade tensions, the steady performance of Taiwan's economy presents challenges for the SGD as well. As the market continues to assess these developments, traders and businesses engaged in cross-border transactions should remain vigilant to potential fluctuations in the SGD to TWD exchange rate. The interplay of domestic economic performance and international trade relations will likely dictate future movements in this currency pair.
