The Singapore Dollar (SGD) has recently exhibited mixed performance against major currencies, driven by various economic and monetary policy factors. In recent months, the Monetary Authority of Singapore (MAS) made notable adjustments to its monetary policy, particularly easing measures in April 2025 to counter economic challenges amid global trade uncertainties. Although the MAS had projected a subdued GDP growth forecast for the year, recent data showed a surprising uptick, with Singapore's GDP growing by 2.9% year-on-year in Q3 2025, prompting an upward revision of the growth outlook to 1.5%-2.5%.
Currently, the SGD finds itself at 7-day lows against the US dollar, trading near 0.7674, which is approximately 0.9% lower than its 3-month average of 0.774. This decline is part of a relatively stable movement within a 2.5% trading range from 0.7646 to 0.7837. Analysts suggest that the global trade tensions and U.S. tariffs on key sectors like pharmaceuticals and semiconductors have contributed to the SGD's fluctuations, affecting export-driven growth.
against the Euro, the SGD has also shown correlation with recent news, currently standing at 0.6622, just below its 3-month average, with stable trades within a 1.5% range from 0.6597 to 0.6695. In notable contrast, the SGD has performed better against the British pound, trading at 0.5836, which is approximately 0.9% above its 3-month average, and has maintained a solid trading range of 2.3% from 0.5741 to 0.5873.
On a more positive note, the SGD has experienced a strong position against the Japanese yen, reaching 90-day highs near 119.2, reflecting an increase of 2.5% over the past three months. This strength could be attributed to its perception as a safe-haven currency during periods of market stress.
As the economic landscape evolves and influences the SGD, businesses and individuals engaging in international transactions should remain aware of potential volatility stemming from both internal policy decisions and external trade developments. Staying informed on these dynamics will be crucial for optimizing currency exchanges during this period.
