The Singapore Dollar (SGD) is currently positioned favorably in the currency market, buoyed by recent economic developments and monetary policy decisions. As of October 14, 2025, the Monetary Authority of Singapore (MAS) opted to maintain its current monetary policy settings, reflecting confidence in the nation's economic resilience amidst ongoing global uncertainties. This decision aligns with Singapore's GDP growth, which outperformed expectations with a year-on-year expansion of 2.9% in Q3 2025, surpassing forecasts of 1.9%.
On the inflation front, while MAS revised its core inflation forecast downward to a range of 0.5% to 1.5% for 2025, easing inflationary pressures may allow for continued support of the SGD. However, potential trade pressures from U.S. tariffs on key exports like pharmaceuticals and semiconductors remain a concern, which could prompt adjustments in MAS's exchange-rate policy if necessary.
Recent exchange rates reflect some notable trends. The SGD to USD is currently at 90-day lows around 0.7681, just 1% below its three-month average of 0.7757, indicating stable trading within a 2% range of 0.7681 to 0.7837. Conversely, the SGD to EUR is trading at 30-day highs near 0.6664, slightly above its three-month average, with fluctuations contained to a 1.7% range from 0.6597 to 0.6711. The SGD has also shown strength against the GBP, currently at 0.5848, which is 1.2% above its three-month average of 0.5777, with a stable trading range from 0.5741 to 0.5852. Lastly, against the JPY, the SGD is at 118.4, approximately 2.3% above its three-month average of 115.7, trading within a narrower range from 114.2 to 118.5.
Market analysts continue to monitor these developments closely, as they will impact the SGD's trajectory in the near term. The overall sentiment remains positive, with solid economic performance and a steady policy stance supporting the currency. However, external trade pressures will also play a critical role in shaping future expectations.
