Singapore dollar hits highest against US dollar in over 11 years

The Singapore dollar climbed to its strongest level since October 2014 versus the US currency amid safe-haven flows, and with the nation’s central bank expected to leave its policy settings unchanged this week.

The Singdollar gained 0.4 per cent to 1.2678 per US dollar on Jan 26 as the greenback came under renewed pressure on speculation about potential US involvement in Japanese foreign exchange intervention.

A gauge of the US dollar against a basket of major currencies index slid 0.4 per cent to the lowest level since September 2025, extending last week’s 1.6 per cent decline. This was after a rate check on Jan 23 by the Federal Reserve Bank of New York spurred speculation that the US may assist Japan in efforts to weaken the greenback versus the yen. The Japanese currency surged as much as 1.2 per cent versus the US dollar.

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