(Picture credit: PublicDomainPictures from pixabay.com)
If you had heard from those around you that travelling to some places were getting “cheaper”, they were right. This is mainly due to the strengthening of our Singapore Dollar (SGD) against other major currencies, as shown in Figure 1 over the past 5 years:
|
SGD to |
1-Year % |
2-Year % |
5-Year % |
|
United States Dollar |
+5.34 |
+3.84 |
+8.66 |
|
Euro |
-2.36% |
-1.03 |
+5.15 |
|
British Pound |
+0.31 |
-0.03 |
+1.64 |
|
Japanese Yen |
-3.95 |
+10.62 |
+49.76 |
|
Australian Dollar |
+8.20 |
+7.33 |
+14.91 |
|
Chinese Yuan |
+3.81 |
+3.78 |
+11.27 |
Fig.1: Singapore Dollar to major currency pairs, 1-year, 2-year and 5-year gain/loss. Period covered 13 Jul 2020 to 11 Jul 2025 as at around 11 Jul 2025 2255hr Singapore Time. Source: XE.com.
While Singaporeans going abroad would literally get more bang for the buck in terms of exchange rates, looking from the other side, if one is having assets in, for instance, Japan, assume the holdings’ prices remain unchanged, the loss would be around 33% over five years.
This is what
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