Exchange Rate Calculator

The exchange rate between the Singapore Dollar (SGD) and the New Zealand Dollar (NZD) has experienced notable fluctuations over the past few months. This report provides an analysis of the recent trends, key influencing factors, and potential future outlooks for the SGD/NZD currency pair.

Recent Exchange Rate Trends

As of July 3, 2025, the SGD/NZD exchange rate stands at approximately 1.2949, indicating that 1 Singapore Dollar is equivalent to 1.2949 New Zealand Dollars. Over the past six months, the exchange rate has exhibited both upward and downward movements.

In April 2025, the exchange rate reached its peak for the year at 1.3383 on April 6. This was followed by a decline to the year's lowest point of 1.2716 on April 24. The average exchange rate for 2025, up to June 26, has been approximately 1.3018. (exchangerates.org.uk)

Factors Influencing the SGD/NZD Exchange Rate

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

1. Economic Indicators: Differences in economic performance between Singapore and New Zealand, such as GDP growth rates, inflation, and employment figures, can impact investor confidence and currency valuations.

2. Interest Rate Differentials: The monetary policies of the Monetary Authority of Singapore (MAS) and the Reserve Bank of New Zealand (RBNZ) influence interest rates. Higher interest rates in one country can attract foreign capital, strengthening its currency relative to others.

3. Trade Balances: The trade relationships and balances between the two nations affect demand for their respective currencies. A trade surplus in Singapore, for instance, could bolster the SGD.

4. Global Economic Conditions: External factors, including commodity prices, global economic growth, and geopolitical events, can influence both currencies. For example, fluctuations in global dairy prices can impact New Zealand's export revenues and, consequently, the NZD.

Comparative Analysis with Previous Years

In 2024, the SGD/NZD exchange rate exhibited a general upward trend. The highest rate recorded was 1.3081 on December 26, 2024, while the lowest was 1.1973 on June 5, 2024. The average exchange rate for that year was approximately 1.2375. (exchange-rates.org)

Comparing this to the first half of 2025, the exchange rate has been relatively higher, with an average of 1.3018. This suggests a strengthening of the SGD against the NZD over the past year.

Potential Future Outlook

Predicting future exchange rate movements involves considerable uncertainty due to the multitude of influencing factors. However, several scenarios could unfold:

• Continued SGD Strength: If Singapore's economy continues to outperform New Zealand's, or if the MAS adopts a tighter monetary policy relative to the RBNZ, the SGD may continue to strengthen against the NZD.

• NZD Appreciation: Conversely, if New Zealand experiences robust economic growth, improved trade balances, or if the RBNZ raises interest rates, the NZD could appreciate relative to the SGD.

• Stabilization: Should both economies grow at similar rates with comparable monetary policies, the exchange rate may stabilize around the current average.

Conclusion

The SGD/NZD exchange rate has shown significant variability over the past few months, influenced by a complex interplay of economic indicators, monetary policies, trade balances, and global economic conditions. While recent trends indicate a strengthening of the SGD against the NZD, future movements will depend on the evolving economic landscapes of both countries and external global factors.