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Singapore dollar (SGD) forecasts for 2019

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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.

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Singapore dollar forecast

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).

SGD/USD – 6 month chart

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+0.2%0.725319 Sep 2019
7 Day-0.2%0.728113 Sep 2019
30 Day+0.5%0.722721 Aug 2019
3 Month-1.6%0.738022 Jun 2019
1 Year-0.8%0.732620 Sep 2018
5 Year-8%0.789921 Sep 2014
10 Year+2.6%0.708322 Sep 2009

*For period to 20-Sep 21UTC when SGD/USD was 0.7264

SGD/MYR – Historical Rates

1 Day-0.2%3.038819 Sep 2019
7 Day-0.1%3.035113 Sep 2019
30 Day+0.5%3.017221 Aug 2019
3 Month-0.7%3.053122 Jun 2019
1 Year0%3.032020 Sep 2018
5 Year+18.6%2.556621 Sep 2014
10 Year+23.1%2.464422 Sep 2009

*For period to 20-Sep 21UTC when SGD/MYR was 3.0328

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