Exchange Rate Calculator

The exchange rate between the Singapore Dollar (SGD) and the Mexican Peso (MXN) has exhibited notable fluctuations over the past year, influenced by various economic factors and global events. This report provides an analysis of the SGD/MXN exchange rate trends, highlighting key movements and underlying causes.

Overview of Recent Exchange Rate Movements

As of March 8, 2025, the exchange rate stood at 1 SGD to 15.1017 MXN. (ofx.com) This reflects a general appreciation of the Singapore Dollar against the Mexican Peso over the preceding months. In January 2025, the exchange rate ranged between 15.041 MXN and 15.255 MXN per SGD, with an average of 15.118 MXN. (exchange-rates.org) In February 2025, the rate experienced slight fluctuations, starting at 15.24 MXN on February 1 and ending at 15.20 MXN on February 28, with a peak of 15.54 MXN on February 3 and a low of 15.01 MXN on February 4. (goodreturns.in)

Historical Context and Trends

In 2024, the SGD/MXN exchange rate demonstrated significant volatility. The highest rate was recorded on September 10, 2024, at 15.407 MXN per SGD, while the lowest was on April 8, 2024, at 12.117 MXN per SGD. The average exchange rate for the year was 13.721 MXN per SGD. (exchange-rates.org) This indicates a substantial appreciation of the Singapore Dollar against the Mexican Peso over the year.

Factors Influencing Exchange Rate Fluctuations

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

1. Economic Performance: Singapore's robust economic growth, driven by strong exports and a resilient financial sector, has bolstered the SGD. Conversely, Mexico's economy has faced challenges, including inflationary pressures and political uncertainties, which have weakened the MXN.

2. Monetary Policies: The Monetary Authority of Singapore's proactive monetary policies aimed at controlling inflation and maintaining economic stability have strengthened investor confidence in the SGD. In contrast, the Bank of Mexico's monetary policy decisions, including interest rate adjustments, have influenced the MXN's performance.

3. Global Market Dynamics: Fluctuations in global commodity prices, particularly oil, have impacted Mexico's export revenues and, consequently, the MXN. Singapore's diversified economy has been less susceptible to such commodity price volatility, contributing to the SGD's relative strength.

4. Trade Relations: Singapore's strategic trade agreements and its position as a global trade hub have enhanced its economic resilience. Mexico's trade relations, especially with the United States, have experienced periods of tension, affecting investor sentiment and the MXN.

Implications for Stakeholders

Understanding the dynamics of the SGD/MXN exchange rate is crucial for various stakeholders:

• Investors: Those with exposure to SGD or MXN assets should monitor economic indicators and policy decisions in both countries to make informed investment choices.

• Businesses: Companies engaged in trade between Singapore and Mexico need to consider exchange rate trends in their pricing strategies and risk management practices.

• Travelers and Expatriates: Individuals planning to travel or remit funds between the two countries should be aware of exchange rate movements to optimize their financial transactions.

Conclusion

The SGD/MXN exchange rate has experienced notable fluctuations over the past year, influenced by economic performance, monetary policies, global market dynamics, and trade relations. Staying informed about these factors is essential for stakeholders to navigate the complexities of currency exchange and make strategic decisions.