Singdollar could weaken to 1.425 against greenback

Singapore

FITCH Solutions has lowered its forecast for the Singapore dollar's (SGD) 2020 average exchange rate to S$1.425 per US dollar (USD), from its previous average forecast of S$1.385, in light of the Covid-19 crisis.

The market insights firm on Monday said the currency has "clear prospects of sustained weakness" over the course of this year, given that the risks posed by the pandemic are likely to persist through most of 2020.