The exchange rate forecast for the Singapore Dollar (SGD) to Pakistani Rupee (PKR) shows a mixed outlook driven by recent economic developments in both countries. Analysts note that the SGD is currently trading at 216.2 PKR, which is 1.5% below its 3-month average of 219.4 PKR. The SGD has exhibited stability, remaining within a narrow range of 215.9 to 221.8 PKR over this period.
Recent updates reveal that the Monetary Authority of Singapore (MAS) has opted to maintain its monetary policy settings amid strong economic performance, with Singapore’s GDP growing 2.9% year-on-year in Q3 2025. This robust growth has fostered confidence among economists, hinting that any potential depreciation of the SGD will likely be contained as long as the economy performs well. Furthermore, the MAS revised down its core inflation forecast, indicating less pressure on consumer prices, which could enhance the SGD's appeal as a stable currency.
In contrast, the PKR faces significant headwinds, primarily due to escalating geopolitical tensions and border closures that have led to a sharp depreciation of the currency. Since January 2025, the PKR has lost about 12% of its value against the U.S. dollar. Analysts expect further declines, with projections suggesting that the exchange rate could hit 100 PKR/USD by early 2026 if conditions do not improve. Despite interventions from the State Bank of Pakistan, including the purchase of $9 billion to support foreign reserves, challenges remain. The government’s engagement with the IMF for a $3.5 billion loan has introduced necessary economic reforms aimed at stabilizing the PKR in the long term, but these reforms may lead to short-term inflationary pressures.
Moreover, recent efforts to control illegal currency markets have shown some promise in temporarily strengthening the PKR, yet the overall outlook remains precarious due to underlying economic instability.
In summary, while the SGD demonstrates resilience supported by sustained economic growth, the PKR is weighed down by geopolitical and economic challenges, leading market experts to recommend careful consideration for transactions involving these currencies in the near term.
