SGD GBP conversion
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On Monday, 23rd November 2015 following question to our expert...
I've SGD100,000 that I'm looking to convert to GBP. Is this a good time as the currency pair seems to favour sterling currently. I wondered if you had a predication/forecast for the direction of travel.
On Monday, 23rd November 2015 ...
Support for the Singapore Dollar reached a nadir when global stock markets bottomed out during the final part of Summer. At this time, the GBP SGD exchange rate made a run at the 2.2500 threshold but the Sing has improved since, sending GBP SGD back down below the 2.1500 level.
However, many analysts believe that the current improvement for global stocks is a fragile one. With economic data from China continuing to disappoint and a US interest rate hike expected next week, a correction for both equities and the Singapore Dollar appear a live possibility.
For this reason, I would consider selling your SGD sooner rather than later.
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