Current Exchange Rate Singapore Dollar To Indian Rupee
Introduction
The exchange rate between Singapore Dollar and Indian Rupee is an important aspect for traders, investors, and individuals who travel frequently between the two countries. In this article, we will discuss the current exchange rate between Singapore Dollar and Indian Rupee, factors affecting the exchange rate, and the future outlook.
Current Exchange Rate
As of 23rd August 2021, 1 Singapore Dollar (SGD) is equivalent to 54.66 Indian Rupees (INR). This means if you exchange 1 SGD, you will receive 54.66 INR in return. The exchange rate is constantly changing based on various factors, which we will discuss in the following paragraphs.
Factors Affecting Exchange Rate
Several factors can affect the exchange rate between Singapore Dollar and Indian Rupee. The most important ones are listed below:
1. Inflation Rates
Inflation rates in both countries play a crucial role in determining the exchange rate. If the inflation rate in Singapore is higher than India, the value of the Singapore Dollar will decrease, resulting in a lower exchange rate. Similarly, if the inflation rate in India is higher than Singapore, the value of the Indian Rupee will decrease, resulting in a lower exchange rate.
2. Interest Rates
Interest rates also have a significant impact on the exchange rate. If the interest rates in Singapore are higher than India, investors will prefer to invest in Singapore, resulting in a higher demand for Singapore Dollar. This will increase the value of the Singapore Dollar, resulting in a higher exchange rate. Similarly, if the interest rates in India are higher than Singapore, investors will prefer to invest in India, resulting in a higher demand for Indian Rupee. This will increase the value of the Indian Rupee, resulting in a higher exchange rate.
3. Political Stability
Political stability is also a crucial factor in determining the exchange rate. If there is political instability in either Singapore or India, investors will be hesitant to invest in that country, resulting in a lower demand for that country's currency. This will decrease the value of the currency, resulting in a lower exchange rate.
Future Outlook
The future outlook for the exchange rate between Singapore Dollar and Indian Rupee is subject to various factors such as global economic conditions, political stability, and interest rates. However, experts predict that the exchange rate will remain stable in the short term, with a slight appreciation of the Singapore Dollar in the long term.
Conclusion
The exchange rate between Singapore Dollar and Indian Rupee is an important aspect for traders, investors, and individuals who travel frequently between the two countries. The exchange rate is affected by various factors such as inflation rates, interest rates, and political stability. While the short-term outlook is stable, the long-term outlook predicts a slight appreciation of the Singapore Dollar.