The Singapore Dollar (SGD) remains stable against major currencies amidst a backdrop of positive economic indicators, as reported in mid-October 2025. The Monetary Authority of Singapore (MAS) has opted to maintain its current monetary policy, reflecting confidence in the nation's economic resilience. This decision aligns with the latest GDP figures, which showed an impressive annual growth of 2.9% in Q3 2025, significantly surpassing the forecast of 1.9%. Analysts suggest that this robust performance underpins the potential for continued strength in the SGD.
Despite the positive economic growth, there are underlying concerns regarding external pressures, particularly from potential U.S. tariffs on vital exports such as pharmaceuticals and semiconductors. This situation could prompt the MAS to adjust its exchange-rate policy to safeguard the economy, as noted by market experts.
In recent trading, the SGD to USD exchange rate stands at 0.7686, only 0.8% below its 3-month average of 0.7751, within a narrow range of 2.5% from 0.7646 to 0.7837. Meanwhile, the SGD to EUR rate remains stable at 0.6644, near its 3-month average with relatively low volatility. The SGD has performed notably against the GBP, trading at 0.5841, which is 1.1% above its 3-month average, reflecting a consistent range between 0.5741 and 0.5873. Furthermore, the SGD to JPY exchange rate at 118.0 is trading 1.8% above its average, marking a stable range of 3.8% from 114.2 to 118.5.
Market participants are closely monitoring these developments, weighing the potential impacts of both domestic economic performance and external trade pressures on the future trajectory of the SGD.
