Exchange Rate Calculator

The exchange rate between the Canadian Dollar (CAD) and the Singapore Dollar (SGD) has experienced notable fluctuations over the past several months. Understanding these movements requires an examination of recent trends, underlying economic factors, and future projections.

Recent Exchange Rate Trends

Over the six-month period from September 2024 to March 2025, the CAD/SGD exchange rate exhibited significant variability. The highest recorded rate was 0.9633 SGD per CAD on November 21, 2024, while the lowest was 0.9224 SGD per CAD on March 11, 2025. This represents a decline of approximately 3.78% over the period, indicating a strengthening of the SGD relative to the CAD.

In the first quarter of 2025, the exchange rate continued to show volatility. For instance, on February 26, 2025, 1 CAD was equivalent to 0.9332 SGD. By March 24, 2025, the rate had slightly increased to 0.9320 SGD per CAD.

Economic Factors Influencing the Exchange Rate

Several economic factors have contributed to the observed fluctuations in the CAD/SGD exchange rate:

1. Interest Rate Differentials: The monetary policies of the Bank of Canada and the Monetary Authority of Singapore influence investor decisions. Differences in interest rates can lead to capital flows that affect exchange rates.

2. Commodity Prices: Canada's economy is heavily reliant on commodities, particularly oil. Fluctuations in global commodity prices can impact the CAD's value.

3. Economic Performance: Indicators such as GDP growth, employment rates, and trade balances in both countries affect investor confidence and currency valuations.

4. Global Economic Conditions: Events such as trade tensions, geopolitical developments, and global financial market trends can influence exchange rates.

Forecasts and Projections

Looking ahead, various forecasts suggest a potential depreciation of the CAD relative to the SGD. For example, projections indicate that the CAD/SGD exchange rate may decrease from 0.930 to 0.887, representing a decline of approximately 4.59%.

Another analysis forecasts a decrease of about 2.63% in the next month, with the rate dropping from 0.930922 to 0.906463. The sentiment in the CAD/SGD market is currently estimated to be bearish.

Implications for Stakeholders

For businesses and investors engaged in transactions between Canada and Singapore, these exchange rate movements have several implications:

• Importers and Exporters: Fluctuating exchange rates can affect the cost of goods and services, impacting profit margins.

• Investors: Currency depreciation or appreciation can influence the returns on investments denominated in foreign currencies.

• Travelers: Exchange rate changes affect the purchasing power of travelers, influencing travel budgets and expenses.

Conclusion

The CAD/SGD exchange rate has experienced notable fluctuations over the past several months, influenced by a range of economic factors. Current forecasts suggest a potential depreciation of the CAD relative to the SGD in the near term. Stakeholders should monitor these trends closely and consider the implications for their financial decisions.