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
At the end of March, Singapore's central bank eased its monetary policy, as widely expected, with the city-state's bellwether economy bracing for a deep recession due to the coronavirus pandemic.
The MAS said it would adopt a zero percent per annum rate of appreciation of the policy band starting at the prevailing level, currently slightly below the mid-point of the policy band.
The markets viewed this annoucement as showing the MAS has kept some fire-power in reserve and could intervene again to lower the SGD.
NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.
Overall, it was 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.
Singapore dollar forecasts
Singapore’s trade-reliant economy is teetering on the brink of a recession as the coronavirus pandemic weakens global trade and consumer spending.
There’s increased chance that the Monetary Authority of Singapore (MAS) could start to push the Singapore dollar lower via direct market interventions (ie the central bank actively buying and selling the Singapore dollar).
The MAS typically announces policy decisions twice a year, around the middle of April and October. There have been, out-of-cycle announcement in the past (January 2015) that can surprise markets.
You can also read our full Foreign Exchange Guide to the Singapore.
SGD/USD – Historical Rates
|1 Day||-0.6%||0.6990||02 Apr 2020|
|7 Day||-0.8%||0.7004||27 Mar 2020|
|30 Day||-3.8%||0.7219||04 Mar 2020|
|3 Month||-6.3%||0.7409||04 Jan 2020|
|1 Year||-5.9%||0.7381||04 Apr 2019|
|5 Year||-6.3%||0.7411||05 Apr 2015|
|10 Year||-3%||0.7158||06 Apr 2010|
*For period to 03-Apr 21UTC when SGD/USD was 0.6945
SGD/MYR – Historical Rates
|1 Day||-0.6%||3.0463||02 Apr 2020|
|7 Day||-0.1%||3.0310||27 Mar 2020|
|30 Day||+0.3%||3.0180||04 Mar 2020|
|3 Month||-0.4%||3.0394||04 Jan 2020|
|1 Year||+0.5%||3.0120||04 Apr 2019|
|5 Year||+12%||2.7014||05 Apr 2015|
|10 Year||+31.6%||2.3005||06 Apr 2010|
*For period to 03-Apr 21UTC when SGD/MYR was 3.0268
SGD/AUD – Historical Rates
|1 Day||+0.5%||1.1525||02 Apr 2020|
|7 Day||+2%||1.1360||27 Mar 2020|
|30 Day||+6.4%||1.0891||04 Mar 2020|
|3 Month||+8.6%||1.0661||04 Jan 2020|
|1 Year||+11.6%||1.0382||04 Apr 2019|
|5 Year||+19.2%||0.9714||05 Apr 2015|
|10 Year||+49.7%||0.7736||06 Apr 2010|
*For period to 03-Apr 21UTC when SGD/AUD was 1.1583
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