Exchange Rate Calculator

The exchange rate between the Indian Rupee (INR) and the Singapore Dollar (SGD) has experienced notable fluctuations over the past several months. Understanding these trends is essential for businesses, investors, and individuals engaged in transactions between India and Singapore.

Recent Exchange Rate Trends

Between December 2024 and March 2025, the INR/SGD exchange rate exhibited a downward trend. On December 18, 2024, the rate peaked at 0.0160 SGD per INR. By March 10, 2025, it had declined to 0.0153 SGD per INR, marking a decrease of approximately 4.4% over this period. The average exchange rate during these months was around 0.0156 SGD per INR. (valutafx.com)

Factors Influencing the Exchange Rate

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

• Economic Indicators: India's economic performance, including GDP growth rates, inflation, and trade balances, directly impacts the value of the INR. Similarly, Singapore's economic health influences the SGD. Disparities in these indicators between the two countries can lead to exchange rate adjustments.

• Monetary Policies: Decisions by the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) regarding interest rates and money supply affect currency values. For instance, if the RBI lowers interest rates to stimulate growth, the INR might depreciate relative to the SGD.

• Global Market Sentiment: Investor perceptions and global economic events, such as changes in commodity prices or geopolitical tensions, can influence currency demand and supply, thereby affecting exchange rates.

Implications for Stakeholders

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

• Importers and Exporters: Indian businesses importing goods from Singapore may face higher costs due to the weaker INR. Conversely, Singaporean importers of Indian goods might benefit from more favorable prices.

• Investors: Those holding assets denominated in INR may experience reduced returns when converted to SGD. It's crucial for investors to monitor exchange rate trends and consider hedging strategies to mitigate currency risk.

• Tourists and Remittances: Indian tourists traveling to Singapore will find their money has less purchasing power. Similarly, remittances sent from Singapore to India will convert to a higher amount in INR, benefiting recipients.

Historical Context

Looking at a broader timeframe, the INR/SGD exchange rate has shown variability. In June 2023, the rate was approximately 0.0164 SGD per INR. By December 2024, it had decreased to around 0.0159 SGD per INR. This long-term trend indicates a gradual depreciation of the INR against the SGD. (exchangerates.org.uk, exchangerates.org.uk)

Conclusion

The INR/SGD exchange rate is influenced by a complex interplay of economic indicators, monetary policies, and global market sentiments. The recent depreciation of the INR against the SGD underscores the importance for stakeholders to stay informed and adopt strategies to manage currency risk effectively.