Usd to sgd

What’s next for the USD/SGD forex pair? – Photo: FJZEA / Shutterstock The US dollar ( USD) has turned higher against the Singapore dollar ( SGD) in the past week, after falling to its lowest level since May in response to the Monetary Authority of Singapore (MAS) The SGD has gained as much as 2.8% against the USD in the past month, with the MAS conducting monetary policy by adjusting exchange rates rather than moving interest rates. The MAS raised the midpoint of the SGD’s trading band against other currencies in response to rising inflation. The move came even as Singapore’s second quarter gross domestic product ( Can the Singapore dollar continue to gain value against the US currency even with the persistent strength in the greenback against a basket of currencies? Or will the USD continue to rebound against the SGD? In this article, we look at what drives the value of the two currencies and the outlook for the USD/SGD exchange rate based on analysts’ forecasts. What drives the USD/SGD exchange rate? The The Singapore dollar is the official currency of Singapore and it is also accepted in the state of Brunei as a result of a Currency Interchangeability Agreement. The MAS manages the value of the Singapore dollar by intervening in the forex market and adjusting the banking system’s liquidity. It releases statements about the nation’s monetary policy twice a year. Since 1985, the MAS has maintained the Singapore dollar in a floating band known as the Singapore Dollar Nomin...