USD to SGD Forecast 2025-2030: Prediction & Analysis

USD/SGD Forecast at a Glance

The USD/SGD outlook, and by extension the broader USD SGD prediction, is currently shaped by two dominant monetary policy forces: the Federal Reserve’s commitment to keeping interest rates elevated amid persistent U.S. inflation, and the Monetary Authority of Singapore’s (MAS) continued use of the S$NEER framework to control imported inflation and maintain overall SGD stability. MAS has kept its policy band unchanged since late 2024, signaling a cautious but steady stance.

In this environment, the U.S. dollar continues to enjoy upward drivers, primarily high interest rates and periods of safe-haven demand—while the Singapore dollar remains firmly supported by strong macroeconomic fundamentals. Singapore’s GDP growth forecast has been upgraded to 2.4% for 2025, while MAS and MTI expect core inflation to stay low at around 0.5%, with headline CPI for 2025 projected at 0.5%–1.0%. These conditions give MAS ample room to maintain a stable policy stance and keep the SGD anchored in its stronger zone.

As a result, the SGD is expected to cap much of the USD’s upside, keeping USD/SGD within a controlled range instead of allowing a sharp breakout. Within this macro backdrop, the USD SGD prediction for the coming quarters leans toward a range-bound structure, shaped by the balance between Fed policy dynamics and MAS’s stability-oriented approach. Based on these drivers, we outline three key scenarios below to help businesses and investors build effective FX risk-management strategies.

Policy-Based Forecast Scenarios

Current USD/SGD Exchange Rate

As of November 2025, the USD/SGD pair is trading around 1.300, sitting near the midpoint of its 52-week range (1.2697–1.3753). This level reflects a balanced market structure where the US dollar is no longer excessively strong, yet has not shown a decisive weakening against the Singapore dollar.

In the context of the broader USD SGD prediction, this midpoint positioning reinforces the view that the pair is likely to remain range-bound unless a clear policy catalyst emerges.

On the MAS policy front, the Monetary Authority of Singapore maintained the existing S$NEER framework at its policy meeting on 14 October 2025, leaving the slope, width, and center of the policy band unchanged.

According to the MAS Survey of Professional Forecasters, Singapore’s GDP growth forecast for 2025 has been upgraded to 2.4%. As of September 2025, MAS Core Inflation has eased to 0.4% year-on-year, while CPI-All Items stands at 0.7%, indicating very subdued price pressures.

MAS and MTI project full-year 2025 core inflation at around 0.5%, with headline inflation averaging 0.5%–1.0%, further supporting a stable Singapore dollar outlook in the medium term and aligning with the base-case USD SGD prediction of a contained, stability-driven trading range.

Consumer Price Developments in September 2025 – MTI

In terms of market psychology, IG Client Sentiment data shows that roughly 75% of retail traders are Long on USD/SGD, reflecting expectations for a USD rebound near the 1.30 level. However, such heavily one-sided positioning increases the risk of a sharp reversal if any SGD-supportive news emerges.

OCBC’s latest analysis also highlights that the overall USD/SGD outlook remains neutral, with resistance at 1.31 and support at 1.30–1.2950, while the S$NEER continues to trade about 1.15% above its midpoint, indicating that the Singapore dollar outlook remains relatively strong and consistent with the base-case USD SGD prediction of limited volatility.

Overall, the 1.30 zone represents a balance point between a still-tight Fed policy and an MAS stance focused on maintaining the purchasing power of the SGD. With Singapore’s growth and inflation conditions remaining stable, the USD to SGD forecast — and the broader USD SGD prediction — suggests a narrow, stability-driven trading range around 1.30 until clearer policy signals emerge from either the Fed or the MAS.

Short-Term USD/SGD Forecast (3–6 Months)

Technical Analysis & Key Levels

On the weekly timeframe, USD/SGD continues to trade within a long-term descending channel, confirmed by the downtrend line drawn from the 1.39–1.40 region to current levels. After forming a swing low around 1.27, the pair has been recovering and is now retesting the 1.3030–1.3080 resistance zone, which aligns with the 50-period EMA—raising the probability of another rejection.

Above this area, the 1.3200–1.3300 Imbalance zone stands as the next significant resistance. A breakout and sustained hold above 1.3200 would open the door for a move toward stronger supply zones around 1.3400 and potentially 1.3500.

Conversely, if price fails at current resistance, USD/SGD may retest the 1.2900 support, and a deeper decline could pull the pair back toward the lower boundary of the channel near 1.27.

(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)

Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.

Fed Policy Calendar

Over the next 1–6 months, the USD leg of the USD to SGD forecast will depend heavily on Fed policy. After the Federal Reserve cut rates by 25bps in October 2025, the federal funds rate now stands at 3.75%–4.00%. The next key policy event is the FOMC meeting on 9–10 December 2025, followed by the early-2026 meetings on 27–28 January and 17–18 March 2026.

Recent comments from policymakers indicate a cautious stance, with several members favoring a pause in the cutting cycle due to persistent inflation risks. If the Fed maintains its “higher for longer” approach, the USD may see mild support.

Conversely, any clearer pivot toward easing would create room for the SGD to strengthen in the short term, supporting a more SGD-positive USD SGD prediction and reinforcing the Singapore dollar outlook. These dynamics highlight how shifts in Fed policy can interact with MAS policy to influence the broader USD/SGD outlook.

MAS Policy Schedule

On the SGD side, MAS policy is the central driver of the Singapore dollar outlook. Unlike the Fed, MAS does not operate using interest rates. Instead, it relies on the S$NEER—the Singapore Dollar Nominal Effective Exchange Rate—managed through a policy band defined by its slope, width, and midpoint. MAS conducts two policy meetings each year, in April and October, which are critical events for the USD to SGD prediction.

In its most recent meeting (October 2025), MAS kept the entire S$NEER policy band unchanged, maintaining the existing slope, width, and midpoint, and affirming the current pace of SGD appreciation.

With MAS Core Inflation for 2025 projected at around 0.5% and the 2025 GDP forecast upgraded to 2.4%, MAS has solid grounds to maintain a cautious but SGD-supportive stance in the months ahead.

This reinforces stability for the Singapore dollar and continues to limit the upside potential for USD/SGD — a trend consistent with the baseline USD to SGD forecast — unless a significant shock arises from the Fed or major U.S. economic data.

Long-Term USD/SGD Forecast (2025, 2026-2030)

Forecasts from Major Banks and Institutions

Structural Story – Singapore’s “Safe Haven” Status

Singapore continues to stand out as one of Asia’s leading safe-haven markets, supported by exceptional macroeconomic stability and the unique framework of MAS policy. The country holds a AAA sovereign credit rating, maintains persistent fiscal surpluses, commands substantial national reserves, and offers a highly stable political and regulatory environment — all of which draw strong long-term capital flows.

The S$NEER-based monetary system — designed to control imported inflation and preserve the value of the SGD — ensures that the Singapore dollar remains less volatile than most Asian currencies. During periods of global uncertainty, capital frequently rotates into Singapore, reinforcing a positive long-term Singapore dollar outlook and exerting mild downward pressure on USD/SGD.

Overall, MAS’s consistent policy framework and Singapore’s robust macro fundamentals make the SGD one of the region’s preferred currencies in risk-off environments. This strengthens the long-term bias toward a firmer SGD across multiple USD to SGD forecast and USD SGD prediction scenarios, especially when global sentiment favors stability and high-quality safe-haven assets.

In-Depth Analysis – 4 Key Drivers of USD/SGD

MAS Policy – The S$NEER Framework

Within Singapore’s monetary policy framework, S$NEER (Singapore Dollar Nominal Effective Exchange Rate) is the central pillar. It measures the strength of the SGD against a trade-weighted basket of currencies, and MAS policy relies on this mechanism — rather than interest rates — to control imported inflation. The SGD is allowed to fluctuate within a policy band defined by three parameters: slope, width, and midpoint. The slope represents the pace at which the SGD is allowed to appreciate or depreciate over time. When MAS increases the slope, the SGD is guided to appreciate more quickly; when the slope is set to zero, MAS is effectively adopting a neutral stance.

The most important driver in any USD to SGD forecast is how MAS policy manages this S$NEER band. At its 14 October 2025 meeting, MAS kept the entire band unchanged but highlighted that core inflation is projected at only about 0.5% in 2025, while headline CPI is expected to stay around 0.5–1.0%.

This suggests that over the next 6–12 months, the base-case USD SGD prediction assumes MAS will maintain a mild appreciation slope for the SGD and only adjust if there is a significant growth shock. Structurally, this means the medium-term Singapore dollar outlook continues to be supported by a stable MAS framework that leans slightly in favor of a stronger SGD.

Fed Policy & the DXY Index

On the USD side, Fed policy and movements in the DXY index are the most important external drivers for USD/SGD and remain a key determinant in any USD to SGD forecast.

On 29 October 2025, the FOMC cut rates by 25bps, bringing the federal funds rate into the 3.75–4.00% range, while emphasizing that inflation remains above the 2% target and risks are still balanced. U.S. core inflation measured by core PCE is currently around 2.9% year-on-year, significantly higher than Singapore’s 0.4%.

In the short term, this makes it difficult for the Fed to pivot into an aggressive easing cycle; markets only expect small, cautious cuts through 2026. As a result, the USD retains some yield advantage, but any upside is likely limited if DXY has already priced in much of the “higher for longer” narrative.

For USD/SGD, this dynamic supports a USD SGD prediction where the pair struggles to break sustainably above key resistance areas, yet also avoids a sharp decline as long as the Fed does not move into deeper cuts.

These factors combine to reinforce a steady, data-driven trading environment consistent with the broader Singapore dollar outlook and existing MAS policy stance.

Global Growth & Risk Sentiment

As a very open economy, Singapore is highly sensitive to global growth conditions and shifts between risk-on and risk-off sentiment. The IMF has upgraded its 2025 global growth forecast to around 3.2%, painting a picture that is “not weak, but not booming either.”

The U.S. is expected to grow at about 2%, while China is forecast around 4.8%, with key downside risks arising from renewed trade tensions and tariff measures between the U.S. and China.

In this environment, global risk sentiment tends to hover in a neutral zone: not pessimistic enough to trigger an aggressive flight into the USD, but not optimistic enough to fully fuel carry trades into higher-risk currencies. For USD/SGD, these dynamics imply that the SGD benefits moderately from flows into Asia while still sharing market attention with the USD whenever geopolitical headlines or tariff developments resurface.

This backdrop aligns with the base-case USD to SGD forecast and broader USD SGD prediction, which both anticipate a balanced, stability-driven trading range supported by Singapore’s resilient fundamentals and the consistency of MAS policy within the overall Singapore dollar outlook.

Inflation Differentials Between Singapore & the US

Finally, the inflation differential between Singapore and the U.S. is a fundamental driver of the pair’s long-term direction. The latest projections show MAS Core Inflation at only about 0.5% for 2025, while U.S. core PCE sits around 2.9% year-on-year and CPI (YoY) as of September 2025 is close to 3%.

This wide gap allows MAS policy to continue maintaining — or even tolerate — a gradual appreciation of the SGD in real terms without fear of over-tightening.

If this pattern persists — low inflation in Singapore and only slow disinflation in the U.S. — the SGD in real effective terms will likely have room to strengthen gradually. This naturally tilts the long-term USD to SGD forecast and broader USD SGD prediction toward a sideways-to-slightly-lower trajectory for USD/SGD.

In other words, the medium-term Singapore dollar outlook continues to favor mild SGD strength unless a major shock in inflation or growth forces either economy into a sharp policy reassessment.

Scenario Analysis – Fed Dominates, MAS Defends, or Status Quo?

Hawkish Fed – USD/SGD Toward 1.38

In a scenario where the Federal Reserve maintains a hawkish stance, slow progress in U.S. disinflation would force the Fed to keep interest rates elevated for longer.

This supports capital flows into the USD and strengthens the DXY, putting pressure on Asian currencies — including the SGD. With yield differentials moving further in favor of the USD, the USD/SGD outlook could shift toward 1.38, especially if global risk-off sentiment intensifies.

Under this environment, the USD SGD prediction tends to skew toward additional USD strength, while the Singapore dollar outlook weakens accordingly. In such a situation, the USD takes full control, and even a steady MAS policy framework may struggle to offset Fed-driven upside pressure in the short term.

Strong MAS Defense – USD/SGD Toward 1.32

If MAS unexpectedly raises the slope of appreciation or adopts a more forceful anti-inflation stance through the S$NEER, the SGD will receive significant support. With domestic inflation low and growth stable, MAS policy has room to act if needed. Should MAS choose to “move ahead of the curve,” markets may react by pushing USD/SGD lower toward 1.32, reinforcing confidence in a stronger Singapore dollar outlook and a more defensive policy posture.

In this scenario, the USD SGD prediction naturally shifts toward further SGD strength, and the USD to SGD forecast reflects MAS’s ability to counterbalance external pressures when macro conditions allow.

Status Quo – Sideways Trading at 1.34–1.36

In the base case, both central banks hold steady. The Fed keeps rates in the 3.75–4.00% range, while MAS policy maintains the current S$NEER band structure.

With inflation stabilizing in both economies, the market lacks a decisive catalyst to drive a breakout. Under these balanced policy dynamics and neutral global risk sentiment, the USD to SGD forecast points to a sideways range of 1.34–1.36 — a view that aligns closely with the baseline USD SGD prediction.

This scenario reflects the pair’s characteristic low volatility and data-sensitive behavior, while maintaining a stable Singapore dollar outlook in the near term.

Strategy Guide – Managing USD/SGD Risk

For Businesses

Companies with USD or SGD cash flows should prioritise locking in exchange rates through forward contracts, especially when USD/SGD is trading near its equilibrium zone around 1.30.

Hedging plans should closely follow the two MAS policy meetings (April and October) and the FOMC schedule, as these events often trigger strong movements driven by S$NEER adjustments and US–Singapore inflation data. Quarterly hedging remains a safe and flexible approach.

For Long-Term Investors

The SGD continues to function as a stable and reliable regional safe-haven currency. When the Singapore dollar outlook remains supportive thanks to MAS policy and solid macro fundamentals, temporary periods of USD strength (USD/SGD at 1.34–1.36) offer attractive opportunities to convert into SGD—especially for property investors, funds, and individuals aiming to accumulate SGD over the medium to long term.

For FX Traders

USD/SGD is well-suited for range-trading strategies due to its narrow volatility band and the stability created by the S$NEER framework. Key trading levels include 1.30, 1.31, and 1.2950 for entries and profit-taking.

However, volatility tends to spike around FOMC meetings and the two MAS policy reviews, when the market rapidly reprices interest-rate and FX expectations. Traders should therefore manage risk tightly, reduce leverage, and follow short-term signals based on major economic data.

Key Risks to the Forecast

Although the medium-term USD to SGD forecast leans toward SGD stability, several risks could alter the projected trajectory. The most significant is the possibility of weaker global growth — particularly if demand from the U.S., Europe, or China slows more than expected.

As a highly trade-dependent economy, Singapore would be vulnerable to such a downturn, potentially pushing USD/SGD higher again and shifting the baseline USD SGD prediction toward a more USD-positive bias.

Another risk comes from any changes in the S$NEER framework under MAS policy that reduce support for the SGD. Geopolitical tensions in Asia or instability in major trading hubs may also trigger safe-haven flows into the USD, adding upside pressure to the pair and softening the near-term Singapore dollar outlook.

Finally, a breakdown in the correlation between USD/SGD and the DXY — especially during periods when markets aggressively reprice expectations for Fed policy — could generate less predictable short-term volatility.

This would complicate exchange-rate planning for both businesses and investors and introduce more uncertainty into forward-looking USD SGD prediction scenarios.

Conclusion

In the near term, the USD to SGD forecast and broader USD SGD prediction will continue to be shaped by the interaction between Fed interest-rate policy and MAS policy through the S$NEER framework.

With the Fed keeping rates elevated and MAS prioritising price stability, the pair is likely to remain range-bound unless clear policy signals emerge from either central bank.

Over the longer horizon, Singapore’s strong macro fundamentals and MAS’s consistent policy stance support a firmer Singapore dollar outlook, especially once the Fed enters its next rate-cutting cycle.

Businesses and investors should prioritise hedging around key FOMC and MAS MPS meetings, the periods when USD/SGD tends to see the most volatility—to optimise costs and manage FX risk effectively in an environment highly sensitive to monetary-policy shifts.