The recent forecasts for the CHF to SGD exchange rate reflect a cautious sentiment in light of macroeconomic developments impacting both currencies. As of December 2025, the Swiss National Bank (SNB) has maintained a zero interest rate policy, which analysts attribute to persistent deflationary pressures—evident from a stable inflation rate of 0.2%. The potential for further easing measures has led market forecasters to suggest that CHF may remain under pressure unless inflationary improvements occur.
External risks, notably geopolitical tensions and trade uncertainties highlighted by the International Monetary Fund (IMF), pose potential challenges to the Swiss economy, thereby influencing CHF stability. Notably, speculation surrounding a substantial reduction in U.S. tariffs on Swiss exports—from 39% to 15%—has added a positive outlook for the CHF. Analysts suggest such developments could bolster the franc's strength as Swiss exports potentially regain competitiveness in the global market.
On the other hand, developments concerning the Singapore Dollar (SGD) indicate an economy grappling with external pressures. The Monetary Authority of Singapore (MAS) has adopted an accommodative stance, easing monetary policy in early 2025 to mitigate the impacts of U.S. tariffs on key exports. Continued adjustments to the nominal effective exchange rate band suggest that the MAS remains vigilant in addressing inflation, which has recently nosedived to 0.6%. This presents a complex situation where economic growth appears resilient, yet tariff impacts continue to weigh heavily on the SGD.
With CHF currently valued at 1.6271 against the SGD, it remains just above its three-month average, and has traded within a stable 2.0% range from 1.6082 to 1.6405. Analysts observe this relative stability, but caution that the intertwined effects of monetary policy decisions in Switzerland and Singapore, along with global trade dynamics, will likely influence future fluctuations of the CHF/SGD exchange rate. Hence, stakeholders should remain attentive to these economic indicators and geopolitical developments as they navigate international transactions.
