Recent forecasts and market developments have provided a mixed outlook for the SGD to MYR exchange rate. As of October 19, 2025, the SGD trades at 3.2304 MYR, notably 1.3% below its 3-month average of 3.2738, indicating a relatively stable price movement within a narrow range from 3.2265 to 3.3189.
Analysts point out that the stability in the SGD is supported by the Monetary Authority of Singapore's decision to maintain its monetary policy amid strong economic performance. Singapore's GDP growth of 2.9% year-on-year in Q3 2025 has surpassed economists' forecasts, reflecting resilience in the face of global uncertainties. However, a downward revision in core inflation expectations suggests that the MAS is adopting a cautious approach to economic management, leaving room for future policy adjustments if necessitated by external factors, such as potential U.S. tariffs.
On the other side, the Malaysian Ringgit is benefiting from favorable local economic conditions. The recent rate cuts by the U.S. Federal Reserve have weakened the U.S. dollar, which indirectly supports the MYR. Malaysia's economic fundamentals appear strong, with sustained GDP growth and significant trade surpluses bolstering confidence among investors. Furthermore, Bank Negara Malaysia's decision to keep the Overnight Policy Rate stable at 3.00% reflects a careful stance amid global uncertainty, with experts noting the importance of continued economic resilience.
Oil prices, traded at approximately $65.07 per barrel, are also influencing the MYR. This price level is 1.7% below the 3-month average, showing heightened volatility with a range between $60.96 to $70.13. Given Malaysia's status as a major oil exporter, fluctuations in oil prices can significantly impact the Ringgit's performance.
In summary, the SGD to MYR outlook remains influenced by a combination of Singapore's steady economic growth and monetary policy, alongside Malaysia's robust economic fundamentals and external monetary conditions. Analysts suggest that ongoing assessments related to global trade, inflationary pressures, and commodity prices will be crucial in defining future exchange movements between these two currencies.
