Loading...

Home pages - full list (A-Z)

Singapore dollar news and forecasts

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.

#Forecasts #SGD
Email share     Facebook     LinkedIn    Twitter
  Singapore dollar forecast

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.

SGD/USD – 6 month chart

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

PeriodChange*SGD/USDDate
1 Day-0.06%0.725022 May 2019
1 Week-0.52%0.728416 May 2019
1 Month-1.67%0.736923 Apr 2019
6 Months-0.37%0.727324 Nov 2018
1 Year-2.71%0.744823 May 2018
5 Years-9.21%0.798124 May 2014
10 Years+4.68%0.692225 May 2009

*For period to 23-May 21UTC when SGD/USD was 0.7246

SGD/MYR – Historical Rates

PeriodChange*SGD/MYRDate
1 Day+0.14%3.034222 May 2019
1 Week+0.12%3.034916 May 2019
1 Month-0.12%3.042023 Apr 2019
6 Months-0.47%3.052724 Nov 2018
1 Year+2.54%2.963023 May 2018
5 Years+18.59%2.562224 May 2014
10 Years+25.79%2.415525 May 2009

*For period to 23-May 21UTC when SGD/MYR was 3.0384

Related Articles

Australian Dollar at 4-Month Low After China Announces Tariff Retaliation

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

Consumers Throwing Away Billions on FX Fees (TransferWise Study)

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

SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection

What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.

Last update: 18 Apr, 2019

TransferWise Announces PayNow Funding Option

TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.

Last update: 29 Mar, 2019

 

Posted to: Forecasts

 
   

Get a Better FX Deal when you Send and Spend Abroad.

 

Do NOT follow this link or you will be banned from the site!