Exchange Rate Calculator

The exchange rate between the Indian Rupee (INR) and the Singapore Dollar (SGD) is a critical indicator for businesses, investors, and individuals engaged in trade, investment, or remittances between India and Singapore. Analyzing the recent trends in this exchange rate provides valuable insights into the economic dynamics influencing these two currencies.

Recent Exchange Rate Trends

Over the past few months, the INR/SGD exchange rate has exhibited a gradual depreciation of the Indian Rupee against the Singapore Dollar. From December 2024 to March 2025, the exchange rate declined from approximately 0.0160 SGD per INR to around 0.0153 SGD per INR. This represents a depreciation of about 4.15% over this period.

Key Data Points:

• Highest Rate: 0.0160 SGD per INR on December 18, 2024.
• Lowest Rate: 0.0153 SGD per INR on March 6, 2025.
• Average Rate: 0.0156 SGD per INR over this period.

Factors Influencing the Exchange Rate

Several factors have contributed to the observed depreciation of the Indian Rupee against the Singapore Dollar:

1. Economic Performance:

   • India: India's economic growth has faced challenges due to various factors, including inflationary pressures and fiscal deficits. These issues can lead to reduced investor confidence and capital outflows, exerting downward pressure on the Rupee.
   • Singapore: Singapore's economy has demonstrated resilience, supported by strong trade surpluses and a stable financial sector. This economic stability enhances the attractiveness of the Singapore Dollar as a safe-haven currency.

2. Monetary Policies:

   • The Reserve Bank of India (RBI) has maintained an accommodative monetary policy stance to support economic growth, which can lead to lower interest rates and a weaker Rupee.
   • Conversely, the Monetary Authority of Singapore (MAS) has managed its monetary policy to maintain the strength of the SGD, focusing on controlling inflation and ensuring economic stability.

3. Trade Balances:

   • India's trade deficit, characterized by higher imports than exports, contributes to the depreciation of the Rupee.
   • Singapore's trade surplus, resulting from robust export performance, supports the strength of the SGD.

Implications of the Exchange Rate Movement

The depreciation of the INR against the SGD has several implications:

• For Indian Exporters: A weaker Rupee makes Indian goods and services more competitively priced in Singapore, potentially boosting exports.
• For Indian Importers: Imports from Singapore become more expensive, increasing costs for businesses relying on Singaporean goods and services.
• For Investors: Currency fluctuations can impact returns on investments denominated in these currencies, necessitating careful risk management strategies.

Conclusion

The recent depreciation of the Indian Rupee against the Singapore Dollar reflects underlying economic conditions, monetary policies, and trade balances between the two countries. Stakeholders should monitor these factors closely to make informed decisions in trade, investment, and financial planning.