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SGD

Singapore Dollar – Market News

 

Booming Commodities Can’t Save Australian Dollar

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

SGD, MYR at 6-Month Lows After Singapore, Malaysia Added to U.S. Currency Watchlist

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

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

Revolut Readies Singapore Launch

Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate, should be ready for its Singapore beta launch in March 2019, the company has said.

Last update: 27 Feb, 2019

Outlook for Singapore Dollar Is Bright; Swiss Franc Strong In Spite of Ultra-Loose SNB

The Singapore dollar weakened on Tuesday but is forecast to be the best performing Asian currency in 2019. In Europe, political uncertainties have driven funds into the Swiss franc, elevating its price. The SNB has re-affirmed its commitment to market interventions, which means EUR/CHF at Fr1.1 will be a difficult nut to crack.

Last update: 8 Jan, 2019

Bets Against IDR, SGD and INR Increase

A Reuters survey of investors this week has shown increased bearishness on the Indonesian rupiah, Singapore dollar and Indian rupee. Each of the Asian currencies has lost value this year amid concerns for global trade and following emerging market currency crises in Argentina and Turkey.

Posted: 24 Aug, 2018

Australian Dollar Now Worth Less Than Singapore Dollar

The Australian dollar has been among the hardest hit of major currencies in recent months. Heavy losses since January have been widely reported in the financial press, with most commentaries focusing on the Aussie’s 8.6 percent decline against the

Last update: 23 Feb, 2019

Dollar Doldrums: USD Suffers Worst Day in 10-Months Despite Pick-Up in Core Inflation

The U.S. Dollar Index (DXY) suffered its worst one-day decline in ten months on Friday in spite of an unexpected acceleration in the rate of core inflation and what appeared to be an upward revision to U.S. interest rate expectations. After the Bureau of Labor Statistics announced that U.S. consumer prices, excluding food and energy, […]

Last update: 28 May, 2018

DBS Exchange Rates

DBS Exchange Rates

Currency exchange is a complex subject for most people. For the majority of them, it is not something they need to track on a daily basis. However, when someone plans to travel abroad or send/receive cash from overseas, one needs to have some awareness of exchange rates and its calculation. In this article we look […]

Last update: 19 May, 2019

InstaReM – BER Review

Instarem provides fast, safe and cost effective cross border money transfer services for Individuals and businesses from Australia, Hong Kong, India, Malaysia and Singapore to more than 25 countries.

Last update: 28 Jan, 2020

CAD Steals Headlines from Dollar on Dramatic Employment Boost; Asia-Pac Currencies Make Sweeping Gains

The U.S. dollar was upstaged by its Canadian counterpart on Friday following the release of some spectacular Canadian employment data. Statistics Canada said on Friday that the nation’s unemployment rate fell in December to just 5.7% – the lowest rate in forty years – and that Canadian businesses added 78,600 new jobs. Ahead of the […]

Last update: 28 May, 2018

Markets Upbeat Ahead of FOMC and Trump Decision; Korean Won Best in Asia-Pac

Ahead of major announcements in the coming days, investors were in surprisingly good spirits on Wednesday, indicated by a stronger New Zealand dollar, won, rupee and a faltering yen. Weakness in Asia-Pac FX would have been forgiven ahead of Thursday’s announcements by the FOMC (Wednesday in the US and Europe), Bank of England and Donald […]

Last update: 28 May, 2018

Asia-Pac Currencies Make Waves Against Euro After ECB Extends Asset Purchases

Currencies in the Asia-Pacific region made sweeping gains against the euro on Thursday night after the European Central Bank announced a cautious approach to the removal of monetary stimulus. Further to a zero percent interest rate, the ECB is currently buying €60 billion worth of assets (bonds) each month, with the goal of keeping eurozone […]

Last update: 28 May, 2018

Yen at Weakest Since July Following Abe’s Decisive Win and Strength in EUR/GBP Predicted

Shinzo Abe’s Liberal Democratic Party was the decisive winner in this weekend’s Japanese election, paving the way for a continuation of “Abenomics” and extremely loose monetary policy in the world’s third largest economy. Consequently, the Japanese yen weakened on Monday to levels above 114 per dollar for the first time since July. According to the […]

Last update: 28 May, 2018

SGD and NZD Weaken After Economic Data

The Singapore dollar weakened against the US dollar on Tuesday morning after data showed that non-petro exports plunged 11% in September. Ahead of the data’s release, analysts had forecast an unchanged reading. September’s number means that Singapore’s exports declined on an annual basis by 1.1%, from growth of 16.7% in the year to August. USD/SGD […]

Last update: 19 Feb, 2019

The Week Ahead for Asia FX

The week ahead should be an interesting one for Asian financial markets, with the highlights being China’s 19th National Congress, the latest numbers for Chinese economic growth, the Bank of Korea’s monetary policy meeting and Japanese trade data. Further to that, and to the events outlined below, investors should look with care to Federal Reserve […]

Last update: 28 May, 2018

Singapore Dollar Weakens Despite Impressive GDP Growth

In spite of robust economic data, the Singapore dollar weakened on Friday to 1.354 per US dollar and to 1.604 per euro, from 1.3515 and 1.5992 respectively. Singapore’s Ministry of Trade and Industry (MTI) said on Friday that preliminary GDP for the third quarter grew by an impressive 6.3%; nearly twice the market forecast of 3.2%. […]

Last update: 28 May, 2018

Asian Currencies Have Muted Start to Golden Week

Currencies in Asia have begun the week slowly and also with contrasting performances against the FX majors. Against the dollar, while all of Asia’s ten most active currencies have fallen marginally on Monday morning, many hold slight gains or remain unchanged against the euro. Little movement has been seen against the yen. A mixed bag […]

Last update: 28 May, 2018

Singapore Dollar Trades Cautiously but Still Reaches 6-Week High Versus Yen

The Singapore dollar has begun the week cautiously. Against the US dollar, having risen on Friday to a one-year high of 0.7493, the currency of Asia’s ‘Lion City’ conceded some ground on Monday and Tuesday, with SGD/USD falling back below 0.745. A retreat in the pair was likely given last week’s approach to major technical […]

Last update: 28 May, 2018

Korean Won Leads Asian Currencies Higher

Most Asian currencies ended Wednesday higher against the dollar, albeit on a rather unspectacular day of trading. With a few exceptions, markets traded quietly ahead of the Jackson Hole symposium (24-26 August) at which Fed Chairwoman Janet Yellen and ECB President Mario Draghi might give important updates on monetary policy. The star of the day […]

Last update: 28 May, 2018

Government Forecasts Add to New Zealand Dollar Woes, Currency at 14-Month Low Versus EUR

The New Zealand government piled misery onto the New Zealand dollar on Wednesday with its announcement that it had revised downward its forecasts for economic growth this year and next. Treasury officials said that growth for the year to June 2017 would likely come in at 2.6%, from earlier expectations of 3.2%, and have forecast […]

Last update: 9 Feb, 2020

Yen at 8-Week High as Investors Flee to Safe Havens and Singapore’s Economy Outperforms

Amid growing tensions between the US and North Korea, investors fled on Thursday to the safety of the Japanese yen, gold and Treasuries. Earlier this week, US president Donald Trump had promised to lay “fire and fury” on North Korea should any attempt be made by the rogue nation to harm the US. Not one […]

Last update: 28 May, 2018

RBA Stay Put and Moody’s Are Unhappy with South Africa’s Monetary Policy, Rand Falls to Long-Term Lows

The South African Reserve Bank (SARB) surprised markets in July when it cut interest rates by a quarter-point to 6.75% – the country’s first rate cut since 2012. Prior to the decision, of the fifty economists polled by Reuters and Bloomberg, only three had predicted a move to lower the cost of borrowing. This rate […]

Last update: 28 May, 2018

2017 Dollar Dream Is Crumbling, Currency Falls Sharply Following More Disappointing Inflation Data

Oh dear. What a mess. So much had been hoped for the US dollar in 2017 but how those mighty hopes have fallen. The US dollar fell sharply on Friday, adding to what has already been a pretty horrible year for America’s currency. Of special note were USD/THB, USD/SGD, USD/AUD, USD/GBP, USD/CAD and the US […]

Last update: 10 Feb, 2020

Singapore Dollar Lower on GDP Miss, At 3 ½ Month Low Versus Australian Dollar

The Singapore dollar fell on Friday morning following worse than expected GDP data. Singapore’s Ministry of Trade and Industry said that the economy expanded 0.4% in the second quarter, which equates to annualized growth of 2.5%. These numbers fell short of the market forecasts for 1.1% and 2.8% for quarterly and annualized growth respectively. Singapore’s […]

Last update: 28 May, 2018

Yen Falls to 1-Month Low Ahead of Yellen Speech

“Hedge funds are selling yen this week, and positive comments from Yellen could give them an excuse to sell even more,” said Kaneo Ogino of FX research group Global-Info Co yesterday. Ogino’s comments came at the end of yesterday’s New York session which ended with the yen trading at ¥111.84 against the dollar, marking a […]

Last update: 28 May, 2018

Hong Kong Authorities Post Warning on “Dangerous Situation” in Housing Market and RBNZ Keep Cool on Interest Rates

“We have to warn our people about the dangerous situation of the property market,” said Hong Kong’s Financial Secretary, Paul Chan, today. In an interview with Bloomberg’s Haslinda Amin, Chan expressed concern about a potential housing market correction in Hong Kong, which is currently the world’s most expensive city for property. In 2016, Hong Kong […]

Last update: 28 May, 2018

Australian Dollar Falls but Recovers Following Moody’s Downgrade of Australia’s Top Banks

On Monday, US ratings agency Moody’s cut its credit ratings on Australia’s four largest banks by one notch to Aa2 from Aa1. The banks – Westpac, ANZ, Commonwealth Bank and National Australia Bank – retain their “investment grade” status but are no longer top-rated by the agency. Less well known, smaller banks that were downgraded […]

Last update: 28 May, 2018

New Zealand Dollar Is Best Performer in May but Big Bank Predicts Lower Value Ahead

Of the FX majors, the New Zealand dollar has been the best performer in May. At the end of yesterday’s New York session, with NZD/USD at 0.754, the pair is up 2.9% since May 1st. By comparison, the kiwi’s closest cousin, the Australian dollar, is down 0.5% against the US dollar. The New Zealand dollar […]

Last update: 28 May, 2018

New Six-Month Highs in Singapore Dollar as Government Predicts Above-2% Growth in 2017

The Singapore dollar-to-US dollar exchange rate reached six-month highs this morning at 0.7231 following new predictions from Singapore’s Ministry of Trade and Industry (MTI) that economic growth in the country will exceed 2% this year. “Barring the materialization of downside risks, GDP growth is likely to come in higher than the 2% achieved in 2016,” […]

Last update: 28 May, 2018

Malaysian Ringgit’s Failure to Rally Despite Positive News Could be Important Signal for Currency’s Future Direction

In Conan Doyle’s Hound of the Baskervilles, the legendary detective Sherlock Holmes solves a crime using his knowledge of what didn’t happen. Specifically, when Holmes learns that the victim’s dog had not barked during the night of the theft of a prized racehorse, Holmes knows that the offender is likely known to the dog – an insight […]

Last update: 28 May, 2018

Fed and Economic Data Add to a Terrible Day for Australian Dollar

Yesterday on BestExchangeRates.com, we suggested that now might be the time to change your Australian dollars into Canadian dollars, having seen the Aussie’s buying power reach 6-month highs on Tuesday. Those words now seem prophetic, given what we saw yesterday in Australian dollar exchange rates. The Australian dollar tumbled across the board yesterday, including against […]

Last update: 28 May, 2018

Scotiabank: Four Conditions for Asian Currency Appreciation in 2017

On Friday, Scotiabank – otherwise known as the Bank of Nova Scotia – outlined four factors that would drive Asian currencies higher in 2017. Investors would “pour funds” into Asian markets on the following grounds:   1)   If the Bank of Japan and European Central Bank continue with their stimulus programs, providing “accommodative” levels […]

Last update: 28 May, 2018

Malaysian Ringgit Outlook: Has It Turned a Corner?

The Malaysian ringgit has been one of Asia’s worst performing currencies for some time. Between May-2013 and September-2015 the exchange rate for MYR/USD declined from highs at 0.338 to 0.223 – a 34% fall in the currency’s value. Markets gave the ringgit some respite between October-15 and April-16, a period in which the ringgit clawed […]

Last update: 28 May, 2018

Singapore’s Growth Roller Coaster Continues and RBA Posts Warning on Housing Market

First-quarter data released this morning shows that the Singapore economy has contracted at an annualized -1.9%. The number continues to add to what has become a theme of incredible GDP volatility in Asia’s ‘Lion City’. Annualized GDP growth to the end of Q4 2016 had been a whopping +12.3%, and prior to that, -0.4%. Also […]

Last update: 28 May, 2018

Philippine Peso Starts Q2 with a Bang

In recent days, the Philippine peso has done what other Asian currencies were unable to, and that’s to make gains against the US dollar in an environment of heightened geopolitical risk – an environment normally associated with a sell-off in emerging market currencies. The peso gained again on Monday following up on its superb performance […]

Last update: 28 May, 2018

Bankers Hint at End to Historically Cheap Euro

Short-term EUR/USD traders would have hoped for more from Wednesday’s news and data releases. Investors learned on the day that the Federal Reserve are planning to shrink their balance sheet (akin to monetary tightening) and that a strong employment trend persists in the world’s largest economy (US ADP employment +263k vs. +184k expected). Nevertheless, the […]

Last update: 6 Jun, 2018

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