Exchange Rate Calculator

The exchange rate between the Singapore Dollar (SGD) and the New Zealand Dollar (NZD) has exhibited notable fluctuations over the past few months. Understanding these movements requires an examination of recent trends, historical context, and the economic factors influencing both currencies.

Recent Exchange Rate Trends

In 2025, the SGD/NZD exchange rate has experienced moderate volatility. The highest rate recorded was 1.3229 NZD per SGD on February 28, 2025, while the lowest was 1.2988 NZD per SGD on January 20, 2025. The average exchange rate during this period was approximately 1.3075 NZD per SGD. (exchange-rates.org)

In March 2025, the exchange rate continued to fluctuate within a narrow range. For instance, on March 3, 2025, the rate was 1.3226 NZD per SGD, slightly decreasing to 1.3199 NZD per SGD on March 4, 2025. By March 14, 2025, the rate had declined to 1.3022 NZD per SGD. (exchange-rates.org)

Historical Context

Looking back to 2024, the SGD/NZD exchange rate demonstrated a general upward trend. The highest rate that year was 1.3081 NZD per SGD on December 26, 2024, and the lowest was 1.1973 NZD per SGD on June 5, 2024. The average exchange rate for 2024 was 1.2375 NZD per SGD, indicating a strengthening of the Singapore Dollar against the New Zealand Dollar over the year. (exchange-rates.org)

Over the past five years, the SGD/NZD exchange rate has shown significant variability. For example, on March 9, 2025, the rate was 1.316 NZD per SGD, reflecting a 0.000% change from the previous day. Over the past week leading up to that date, the exchange rate fluctuated between a high of 1.326 on March 4, 2025, and a low of 1.306 on March 6, 2025. (wise.com)

Economic Factors Influencing the Exchange Rate

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

1. Interest Rate Differentials: The monetary policies of the Monetary Authority of Singapore (MAS) and the Reserve Bank of New Zealand (RBNZ) significantly impact the exchange rate. If the RBNZ raises interest rates while the MAS maintains or lowers them, the NZD may strengthen against the SGD, and vice versa.

2. Economic Performance: Indicators such as GDP growth, employment rates, and trade balances influence investor confidence. Strong economic performance in Singapore relative to New Zealand can lead to a stronger SGD against the NZD.

3. Commodity Prices: New Zealand's economy is heavily reliant on commodity exports, particularly dairy products. Fluctuations in global commodity prices can affect the NZD's value. For instance, a decline in dairy prices may weaken the NZD against the SGD.

4. Global Economic Conditions: External factors such as global financial market trends, geopolitical events, and economic developments in major trading partners can influence both currencies. For example, a global economic downturn may lead investors to seek safe-haven currencies, potentially strengthening the SGD.

Implications for Stakeholders

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

• Businesses: Companies engaged in trade between Singapore and New Zealand need to monitor exchange rate movements to manage costs and pricing strategies effectively.

• Investors: Currency fluctuations can impact the returns on investments denominated in SGD or NZD. Investors should consider exchange rate trends when making investment decisions.

• Travelers: Individuals traveling between the two countries should be aware of exchange rate trends to budget their expenses accurately.

Conclusion

The SGD/NZD exchange rate has exhibited fluctuations influenced by various economic factors over the past few months. While the Singapore Dollar has generally strengthened against the New Zealand Dollar over the past year, short-term movements reflect the complex interplay of interest rates, economic performance, commodity prices, and global economic conditions. Stakeholders should remain vigilant and consider these factors when making financial decisions involving these currencies.