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
Singapore was added to a US watchlist of suspected currency manipulators in May. Though that means little right now in terms of economic implications, it created some negative sentiment that spurred a rise in USD/SGD to a 6-month high (SGD low) of S$1.384.
Overall, 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.
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 (there's a chance it could turn dovish).
Singapore dollar forecasts
The Singapore dollar will weaken further to S$1.4 per USD before the end of September, analysts at DBS said in May. SGD hasn’t been worth that little since the first half of 2017.
Also predicting SGD weakness is Westpac, which said that Singapore’s electronics exports would weaken amid tighter trade conditions, forcing the MAS to strike a more dovish tone.
You can also read our full Foreign Exchange Guide to the Singapore.
SGD/USD – Historical Rates
|1 Day||-0.1%||0.7426||16 Jan 2020|
|7 Day||+0.1%||0.7416||10 Jan 2020|
|30 Day||+0.6%||0.7379||18 Dec 2019|
|3 Month||+1.2%||0.7331||19 Oct 2019|
|1 Year||+0.6%||0.7377||17 Jan 2019|
|5 Year||-1.6%||0.7540||18 Jan 2015|
|10 Year||+3.3%||0.7188||19 Jan 2010|
*For period to 17-Jan 21UTC when SGD/USD was 0.7422
SGD/MYR – Historical Rates
|1 Day||-0.3%||3.0182||16 Jan 2020|
|7 Day||-0.4%||3.0232||10 Jan 2020|
|30 Day||-1.5%||3.0545||18 Dec 2019|
|3 Month||-1.9%||3.0691||19 Oct 2019|
|1 Year||-0.8%||3.0339||17 Jan 2019|
|5 Year||+12.1%||2.6843||18 Jan 2015|
|10 Year||+25.3%||2.4012||19 Jan 2010|
*For period to 17-Jan 21UTC when SGD/MYR was 3.0096
The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.
Last update: 15 Jun, 2019
The currencies of Malaysia and Singapore were trading at 6-month lows against the dollar on Wednesday following news that the US had added the Southeast Asian nations to its watchlist of suspected currency manipulators.
Last update: 29 May, 2019
The US-China trade war is hotting up and that’s bad news for the Australian dollar, which slipped on Monday to a 4-month low against the dollar, euro and yen.
Last update: 13 May, 2019
As in the rest of the world, consumers in Singapore are being fleeced when it comes to foreign exchange costs, a study by TransferWise has revealed. Individuals in Singapore are being charged 15 times more on international payments than companies are, with S$2 billion lost in hidden FX fees annually.
Last update: 3 May, 2019