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Singapore dollar SGD forecasts for 2020

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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

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.

SGD/USD – 6 month chart
ALERT:1-DAY0.6% 🔔|
SGD/USD at 0.6986 was trading 3.2% below AVG:0.7218 with LO:0.6844 and HI:0.7436 (90 days). ALERT: Today SGD/USD is UP 0.6%
06-APR 9PM-NY 07-APR 2AM-LON 9AM-HK 11AM-SYD

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

PeriodChange*SGD/USDDate
1 Day-0.6%0.699002 Apr 2020
7 Day-0.8%0.700427 Mar 2020
30 Day-3.8%0.721904 Mar 2020
3 Month-6.3%0.740904 Jan 2020
1 Year-5.9%0.738104 Apr 2019
5 Year-6.3%0.741105 Apr 2015
10 Year-3%0.715806 Apr 2010

*For period to 03-Apr 21UTC when SGD/USD was 0.6945

SGD/MYR – Historical Rates

PeriodChange*SGD/MYRDate
1 Day-0.6%3.046302 Apr 2020
7 Day-0.1%3.031027 Mar 2020
30 Day+0.3%3.018004 Mar 2020
3 Month-0.4%3.039404 Jan 2020
1 Year+0.5%3.012004 Apr 2019
5 Year+12%2.701405 Apr 2015
10 Year+31.6%2.300506 Apr 2010

*For period to 03-Apr 21UTC when SGD/MYR was 3.0268

SGD/AUD – Historical Rates

PeriodChange*SGD/AUDDate
1 Day+0.5%1.152502 Apr 2020
7 Day+2%1.136027 Mar 2020
30 Day+6.4%1.089104 Mar 2020
3 Month+8.6%1.066104 Jan 2020
1 Year+11.6%1.038204 Apr 2019
5 Year+19.2%0.971405 Apr 2015
10 Year+49.7%0.773606 Apr 2010

*For period to 03-Apr 21UTC when SGD/AUD was 1.1583

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