Exchange Rate Calculator

The exchange rate between the Mexican Peso (MXN) and the Singapore Dollar (SGD) has exhibited notable fluctuations over the past several months. Understanding these movements requires an examination of historical data, economic indicators, and external factors influencing both currencies.

Historical Exchange Rate Overview

In the six months leading up to February 12, 2025, the MXN/SGD exchange rate experienced a decline of approximately 6.81%. During this period, the highest recorded rate was 0.07070 SGD per MXN on August 16, 2024, while the lowest was 0.06491 SGD per MXN on September 10, 2024. (exchange-rates.org)

In early 2025, the exchange rate continued to fluctuate. On January 6, 2025, the rate peaked at 0.06709 SGD per MXN, then declined to 0.06500 SGD per MXN by March 3, 2025. The average exchange rate during this period was 0.06597 SGD per MXN. (exchange-rates.org)

Economic Indicators and Their Impact

Several economic factors have influenced the MXN/SGD exchange rate:

• Interest Rates: The monetary policies of Mexico and Singapore, particularly their interest rate decisions, have played a significant role. Higher interest rates in Mexico can attract foreign investment, increasing demand for the Peso and potentially strengthening it against the SGD. Conversely, if Singapore offers more attractive interest rates, the SGD may appreciate relative to the MXN.

• Inflation Rates: Disparities in inflation rates between the two countries can affect the exchange rate. Higher inflation in Mexico compared to Singapore can erode the purchasing power of the Peso, leading to its depreciation against the SGD.

• Trade Balances: The trade dynamics between Mexico and Singapore also influence their currencies. A trade surplus in Mexico can bolster the Peso, while a deficit may weaken it. Similarly, Singapore's trade performance impacts the SGD's strength.

External Factors and Market Sentiment

Beyond economic indicators, external factors have contributed to the exchange rate movements:

• Global Economic Conditions: Global events, such as economic downturns or recoveries, can impact investor confidence and currency valuations. For instance, a global economic slowdown may lead investors to seek safe-haven currencies like the SGD, causing it to appreciate against the MXN.

• Geopolitical Events: Political stability and international relations affect currency strength. Political uncertainty in Mexico or Singapore can lead to currency volatility.

• Commodity Prices: Mexico's economy is significantly influenced by oil exports. Fluctuations in oil prices can impact the Peso's value, subsequently affecting the MXN/SGD exchange rate.

Recent Trends and Future Outlook

As of March 21, 2025, the exchange rate stood at 0.0659 SGD per MXN. (currency.me.uk) This indicates a slight appreciation of the Peso compared to its lowest point in early March.

Looking ahead, several factors could influence the MXN/SGD exchange rate:

• Monetary Policies: Future interest rate decisions by the Bank of Mexico and the Monetary Authority of Singapore will be pivotal. Divergent monetary policies could lead to further fluctuations.

• Economic Recovery: The pace of economic recovery in both countries post-pandemic will affect investor confidence and currency strength.

• Global Trade Dynamics: Changes in global trade patterns, especially those involving major trading partners of Mexico and Singapore, could impact their currencies.

Conclusion

The MXN/SGD exchange rate has been subject to various influences over the past several months, including economic indicators, global events, and market sentiment. While recent data shows some stabilization, ongoing monitoring of economic policies and external factors is essential for predicting future movements in this currency pair.