For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in Singapore and globally.
BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.
We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.
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BestExchangeRates.com keeps you up-to-date on Singapore dollar forecasts by collating the views of reliable FX forecasters and economists together with recent 90-day SGD price data. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.
The Monetary Authority of Singapore's (MAS) recent policy meeting confirmed stability in the SGD's management against a basket of currencies, with no changes expected in the policy band slope or currency band parameters. However, concerns over sticky inflation and growth recovery uncertainties were noted, amid the announcement of future quarterly MAS meetings starting in 2024. Following the Fed's decision to hold rates, the SGD saw a slight uptick in November. Despite this, ongoing global economic uncertainty, compounded by geopolitical tensions in Ukraine and the Middle East, cloud the potential for sustained strength in the Sing dollar.
The recent price data for key SGD currency pairs reflects a mixed performance. The SGD to USD pair reached 14-day highs near 0.7445, staying close to its 3-month average. Meanwhile, the SGD to EUR pair hovered near its 3-month average at 0.6887, showcasing stability within a narrow range. The SGD to GBP pair, trading at 0.5897, remained slightly below its 3-month average, while the SGD to JPY pair stood at 111.6, maintaining a steady performance above its 3-month average. The market view on the SGD remains cautious given the prevailing uncertainties, warranting close monitoring of future developments for potential currency movements.
Sending money abroad can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.
Looking for a way to make your next trip more affordable? Check out our Country Guides to the best deals for your international foreign transfers and travel money. These articles will give you travel tips and offer advice for your next trip abroad.
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