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Symbol Last Change % High Low
SGD / JPY 114.57 -0.50 -0.43% 115.40 114.39
Open Last Trade : 17:41 GMT Time : Tue Jul 22 2025 17:41

SGD/JPY : Intraday Live Chart

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JavaScript chart by amCharts 3.21.1
JavaScript chart by amCharts 3.21.100:0203:0006:0009:0012:0015:00

SGD/JPY : Technical Signal Buy & Sell

5 Min Signal 1 Hour Signal 1 Day Signal
Buy Sell Buy

SGD/JPY : Moving Averages

Period MA 20 MA 50 MA 100
5 Minutes 114.54 114.50 114.72
1 Hour 114.94 115.30 115.47
1 Day 114.53 111.18 109.79
1 Week 111.93 113.37 111.15

SGD/JPY : Technical Resistance Level

Resistance 1 - R1 Resistance 2 - R2 Resistance 3 - r3
115.13 115.17 115.23

SGD/JPY : Technical Support Level

Support 1 - S1 Support 2 - S2 Support 3 - S3
115.03 114.97 114.93

SGD/JPY : Periodical High, Low & Average

Period High
Change from Last
Low
Change from Last
Average
Change from Last
1 Week 115.88
-1.31
0.00
+114.57
115.51
-0.94
1 Month 115.88
-1.31
0.00
+114.57
114.18
+0.39
3 Month 115.88
-1.31
0.00
+114.57
109.94
+4.63
6 Month 116.14
-1.57
0.00
+114.57
110.62
+3.95
1 Year 117.19
-2.62
0.00
+114.57
111.84
+2.73

SGD/JPY : Historical Chart

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JavaScript chart by amCharts 3.21.12013201420152016201720182019202020212022202320242025
JavaScript chart by amCharts 3.21.1201320142015201620172018201920202021202220232024
About SGD / JPY

SGD to JPY Exchange Rate: A Tale of Stability Versus Stimulus

The SGD to JPY exchange rate is a compelling story of two Asian economies with contrasting monetary frameworks. The Singapore Dollar (SGD) is managed via a unique exchange-rate–based monetary policy that ensures stability and competitiveness, while the Japanese Yen (JPY) has long been subject to aggressive monetary easing, zero interest rates, and frequent central bank interventions.

This divergence has made SGD/JPY a barometer for broader Asian economic sentiment, as it reflects both the BOJ’s ultra-loose stance and the Monetary Authority of Singapore’s (MAS) conservative management.


1990s: Early Volatility and Japan’s Deflation

During the 1990s:

  • The SGD/JPY rate ranged from 65 to 90.

  • Japan entered its “Lost Decade”, with asset price collapse and prolonged deflation.

  • Singapore maintained a steady growth trajectory with low inflation.

  • MAS adjusted the SGD’s nominal effective exchange rate (NEER) band gradually, avoiding currency shocks.

By the end of the decade, SGD was stronger than the Yen, driven by Japan’s declining yields and Singapore’s policy discipline.


2000–2008: Diverging Strategies Amplify the Gap

In the 2000s:

  • SGD/JPY moved higher, fluctuating between 80 and 100.

  • The Bank of Japan (BOJ) engaged in early rounds of quantitative easing.

  • Japan’s zero-rate policy encouraged carry trades, weakening JPY further.

  • Singapore’s economy recovered strongly post-2001 tech bust, boosting SGD demand.

By 2007, SGD/JPY peaked near 100, as the Yen weakened sharply across the board.


2009–2012: Risk Aversion and Yen Strength

The 2008 Global Financial Crisis reversed trends temporarily:

  • JPY surged as a safe-haven currency, pulling SGD/JPY down to around 60–65 by 2009.

  • MAS loosened its SGD NEER band slightly but avoided aggressive easing.

  • The BOJ’s continued deflation battles brought the Yen back to strength.

This was a rare period when the SGD weakened relative to the JPY, reflecting the global flight to safety.


2013–2019: Abenomics Pushes SGD/JPY Higher

Japan’s new economic doctrine in 2012–13 changed the equation:

  • Abenomics included aggressive bond buying and a target to hit 2% inflation.

  • The SGD appreciated against the Yen again, as Japan’s monetary base ballooned.

  • SGD/JPY surged from 82 in 2012 to nearly 95 by 2015.

  • The MAS maintained a modest appreciation bias for the SGD, supporting its strength.

By 2019, the pair was trading in a stable 80–85 range, as both economies avoided major monetary surprises.


2020–2024: Pandemic Volatility, Rate Divergence

During and after COVID-19:

  • In 2020, JPY strengthened again briefly during the market crash, pushing SGD/JPY back toward 76.

  • As recovery took hold, the Fed’s tightening cycle and MAS policy tightening supported SGD.

  • BOJ, in contrast, stayed dovish with yield curve control (YCC) and negative rates.

  • By 2022, SGD/JPY surged past 100, a level not seen since 2007.

  • In 2023–2024, BOJ began discussing normalization, but cautiously and slowly.

As of early 2025, SGD/JPY trades near 111, at its highest in decades, driven largely by the interest rate gap and Singapore’s resilience.


April 2025 Update: SGD/JPY at Multi-Decade Highs

As of April 2025:

  • SGD/JPY is around 111.0, close to a 30-year high.

  • The Monetary Authority of Singapore continues to guide the SGD within its NEER band, tilted toward mild appreciation.

  • Japan’s BOJ recently raised rates to 0.25%, but this is far below regional peers.

  • The SGD’s effective strength reflects Singapore’s inflation control and export health.

The rate differential remains in favor of SGD, with JPY still undervalued on a real effective exchange basis. As long as BOJ stays cautious, SGD/JPY could test 113.0 in the coming months.


Key

🟢 = SGD appreciated vs JPY
❌ = SGD depreciated vs JPY
⚠️ = Mixed or sideways movement


📊 SGD to JPY Exchange Rate by Decade

DecadeAvg. SGD/JPY Rate (Approx)Change vs. Previous DecadeKey Events
1990s74.0⚠️ Slight appreciationJapan’s deflation, Singapore’s tech growth
2000s87.0🟢 Strong SGD gainsBOJ easing, MAS steady policy
2010s82.5❌ Mild SGD pullbackAbenomics, temporary JPY strength
2020s (till 2025)103.5🟢 Significant SGD outperformanceFed/SGD tightening, BOJ lag in policy normalization

The SGD to JPY exchange rate continues to reflect divergent policy philosophies, with Singapore favoring stability and appreciation, while Japan manages a decades-long stimulus strategy. In 2025, unless BOJ accelerates tightening, the SGD remains likely to outperform the JPY, keeping this pair near its long-term highs.

SGD/JPY - Singapore Dollar / Japanese Yen Currency Rate

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