Singdollar could weaken to 1.425 against greenback

Clear prospects of sustained weakness as risks posed by pandemic likely to persist through 2020: Fitch Solutions

Published Mon, May 4, 2020 · 09:50 PM

Singapore

FITCH Solutions has lowered its forecast for the Singapore dollar's (SGD) 2020 average exchange rate to S$1.425 per US dollar (USD), from its previous average forecast of S$1.385, in light of the Covid-19 crisis.

The market insights firm on Monday said the currency has "clear prospects of sustained weakness" over the course of this year, given that the risks posed by the pandemic are likely to persist through most of 2020.

This could see the SGD continue to trade within the weaker short-term trading range of between S$1.41 and S$1.45 per USD over the co…