Singapore MAS to Maintain Singapore Dollar Nominal Effective Exchange Rate (S$NEER) Policy Band But Will Slightly Increase Rate of Appreciation, Exchange Rate Calibrated to be Consistent with Medium-Term Price Stability, USDSGD at 1.2712, SGD +1% YTD, +3.5% Last 12 Months & +5% Last 5 Years
15th April 2026 | Hong Kong
Monetary Authority of Singapore (MAS) has announced to maintain Singapore dollar nominal effective exchange rate (S$NEER) policy band, but will slightly increase the rate of appreciation. The exchange rate is calibrated to be consistent with medium-term price stability. USDSGD is at 1.2712, SGD +1% YTD, +3.5% last 12 months & +5% last 5 years against USD. Announcement (14/4/26): “In its January 2026 monetary policy review, MAS maintained the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band, with no change to the width of the band or the level at which it was centred. Since then, the S$NEER has strengthened in the upper half of the appreciating policy band … …. GDP growth in the Singapore economy will slow over the course of this year, while the output gap should average around zero percent. Singapore’s imported energy costs have already risen. Prices of a wider range of imported goods and services are expected to increase in the quarters ahead. Consequently, MAS Core Inflation will pick up and remain elevated over the next few quarters. MAS will therefore increase slightly the rate of appreciation of the S$NEER policy band. There will be no change to its width and the level at which it is centred. AS is in an appropriate position to respond effectively to any risk to medium-term price stability and will continue to closely monitor economic developments amid uncertainties in the external environment. MAS also stands ready to curb excessive volatility in the S$NEER.”
“ Singapore MAS to Maintain Singapore Dollar Nominal Effective Exchange Rate (S$NEER) Policy Band But Will Slightly Increase Rate of Appreciation, Exchange Rate Calibrated to be Consistent with Medium-Term Price Stability, USDSGD at 1.2712, SGD +1% YTD, +3.5% Last 12 Months & +5% Last 5 Years “
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Singapore MAS to Maintain Singapore Dollar Nominal Effective Exchange Rate (S$NEER) Policy Band But Will Slightly Increase Rate of Appreciation, Exchange Rate Calibrated to be Consistent with Medium-Term Price Stability, USDSGD at 1.2712, SGD +1% YTD, +3.5% Last 12 Months & +5% Last 5 Years
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