The exchange rate forecast for SGD to TWD presents a cautiously optimistic outlook, influenced by resilient economic indicators from Singapore and improved growth prospects in Taiwan. Recently, the Monetary Authority of Singapore (MAS) opted to maintain its monetary policy, signaling confidence in a robust economic performance, exemplified by a GDP growth of 2.9% year-on-year in Q3 2025, which exceeded analyst expectations.
While Singapore's core inflation forecast has been revised downward, easing inflationary pressures could support the stability of the SGD. Nevertheless, external pressures, such as potential U.S. tariffs affecting key exports, remain a concern, suggesting that vigilance is necessary regarding MAS’s potential future policy adjustments to maintain competitiveness.
In Taiwan, the government revised its economic growth forecast upward to 4.55%, reflecting strong export performance primarily in AI-related semiconductors. The central bank's decision to keep the benchmark interest rate unchanged at 2% aligns with market expectations, indicating a stable monetary environment. However, the recent appreciation of the TWD against the USD may threaten export competitiveness, compelling discussions about the currency’s strength among exporters.
Market data shows the SGD to TWD exchange rate at 23.70, slightly above its 3-month average of 23.58, and within a stable trading range of 3.6% from 23.03 to 23.87. Economists project that if the current economic trends persist, the SGD may experience moderate fluctuations against the TWD, contingent upon external trade policies and domestic economic resilience.
Overall, analysts suggest keeping an eye on upcoming economic reports and monetary policy changes in both Singapore and Taiwan, as these will be pivotal in shaping the SGD to TWD exchange rate trajectory.
