Forecasts for the Singapore dollar change all the time, affected by news events and relative sentiment towards the Singaporean economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of SGD in the currency markets.
SGD in the markets
So far, it’s been a mixed 2019 for the Singapore dollar, with small gains (<2 percent) against the euro and Australian dollar, but small losses against the US dollar and pound.
The benchmark SGD exchange rate, USD/SGD, rose on May-23 to a 6-month high (SGD low) of S$1.382 and is forecast to rise further in the next 4 months (see “Forecasts,” below).
In May, SGD was pressured by data showing core inflation at a 1-year low, by an escalation in US-China trade tensions, and after Singapore’s Ministry of Trade and Industry downgraded 2019 growth forecasts. At 1.2 percent, quarterly growth in the Lion City has slowed to its lowest level in a decade.
All said, the Monetary Authority of Singapore will, at best, keep monetary policy unchanged when it next meets in October and might become more dovish.
Singapore dollar forecasts
USD/SGD will rise further to S$1.4 by the end of September, analysts at DBS said in mid-May. SGD hasn’t been worth so little since May 2017.
You can also read our full Foreign Exchange Guide to the Singapore.
SGD/USD – Historical Rates
|1 Day||-0.06%||0.7250||22 May 2019|
|1 Week||-0.52%||0.7284||16 May 2019|
|1 Month||-1.67%||0.7369||23 Apr 2019|
|6 Months||-0.37%||0.7273||24 Nov 2018|
|1 Year||-2.71%||0.7448||23 May 2018|
|5 Years||-9.21%||0.7981||24 May 2014|
|10 Years||+4.68%||0.6922||25 May 2009|
*For period to 23-May 21UTC when SGD/USD was 0.7246
SGD/MYR – Historical Rates
|1 Day||+0.14%||3.0342||22 May 2019|
|1 Week||+0.12%||3.0349||16 May 2019|
|1 Month||-0.12%||3.0420||23 Apr 2019|
|6 Months||-0.47%||3.0527||24 Nov 2018|
|1 Year||+2.54%||2.9630||23 May 2018|
|5 Years||+18.59%||2.5622||24 May 2014|
|10 Years||+25.79%||2.4155||25 May 2009|
*For period to 23-May 21UTC when SGD/MYR was 3.0384
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