SGD live macro board

Singapore Macro Data Board

Singapore dollar — managed against an undisclosed trade-weighted basket by the MAS.

The Singapore dollar (SGD) is the official currency of Singapore. It is unique among major currencies in that monetary policy is conducted through the exchange rate rather than through interest rates — managed by the Monetary Authority of Singapore (MAS) against an undisclosed trade-weighted basket (the S$NEER).

Open USD/SGD dashboard Latest readings Singapore indicators API coverage

SGD currency market profile

Core identifiers, trading context, and product links for the SGD market.

Currency code
SGD

Singapore Dollar

Policy institution
Monetary Authority of Singapore

Primary central-bank or monetary authority reference.

Primary USD pair
USD/SGD

Fast path into the FX pair dashboard and market profile.

Trading session
London

Approximate primary liquidity window used across FXMacroData pages.

Symbol
S$

Display symbol used in product surfaces.

Also known as
sing dollar

Common market shorthand where available.

Singapore macro brief

The highest-signal pages for Singapore include Central Bank Policy Rate, Core Inflation, Producer Price Index (PPI), Trade Balance, with each page linking back to the source metadata, release history, and API endpoint.

The MAS sets the slope, width, and centre of the S$NEER policy band twice a year, in April and October. Domestic SGD interest rates (SORA) are determined endogenously by the FX policy stance and global interest rates.

For SGD research, combine the country-level release map with the USD/SGD dashboard, release calendar, and API reference so macro events, source metadata, and FX context stay connected.

The pages below are organized by indicator rather than API route. That keeps the public website useful for research while still preserving the versioned API contract for developers.

What to watch
  • MAS monetary policy statement (April and October).
  • Singapore CPI and MAS Core CPI.
  • NODX monthly trade data.
  • Quarterly GDP advance and full estimates.
  • S$NEER index moves and USD/SGD level.

Singapore source map

Publisher groups represented in the checked-in coverage catalogue for this market.

MAS 11 series
MOM 4 series
IMF IFS 3 series
DOS 3 series
Central Bank 3 series
National Statistics Office 2 series
Singapore Department of Statistics 1 series
DOS / MAS 1 series

Singapore coverage by category

The country hub keeps rate, inflation, labour, growth, trade, credit, and market data grouped into the same reusable structure across countries.

Economy 9 / 11
Labor Market 4 / 5
Money & Credit 3 / 3
Monetary Policy 1 / 2
Government Bond Yields 5 / 5
Additional Indicators 3 / 3

Key Singapore indicators

Highest-signal tracked releases for rates, inflation, growth, labour markets, and external balances.

Central Bank Policy Rate

Primary interest rate set by the Central Bank.

Published page ~2x/year % Starts pending Monetary Policy
Open page

Core Inflation

CPI excluding volatile items like food and energy.

Published page Monthly %YoY Starts pending Economy
Open page

Producer Price Index (PPI)

Measures the average change over time in the selling prices received by domestic producers for their output.

Published page Monthly %YoY Starts pending Economy
Open page

Trade Balance

The difference between the value of a country's exports and imports.

Published page Monthly USD mn Starts pending Economy
Open page

Retail Sales

Measures change in the total value of sales at the retail level.

Published page Monthly Index (2025=100) Starts pending Economy
Open page

10-Year Government Bond Yield

Published page Daily % Starts pending Government Bond Yields
Open page

Business Confidence

Survey-based measure of business executives' outlook on economic conditions, production, and investment plans.

Published page Quarterly Index (0-100 normalized) Starts pending Economy
Open page

Consumer Confidence

Survey-based measure of consumers' confidence in economic conditions, employment prospects, and personal finances.

Published page Quarterly Index (0-100 normalized) Starts pending Economy
Open page

Published Singapore indicator pages

Filter by indicator name, source, cadence, or category.

Economy 9 pages

Business Confidence

Survey-based measure of business executives' outlook on economic conditions, production, and investment plans.

Quarterly Index (0-100 normalized) Starts pending
Country page Country list

Consumer Confidence

Survey-based measure of consumers' confidence in economic conditions, employment prospects, and personal finances.

Quarterly Index (0-100 normalized) Starts pending
Country page Country list

Core Inflation

CPI excluding volatile items like food and energy.

Monthly %YoY Starts pending
Country page Country list

Current Account Balance

Measures trade in goods and services and income flows.

Quarterly USD mn Starts pending
Country page Country list

House Price Index

Measures changes in residential property prices over time, reflecting housing market conditions and consumer wealth.

Quarterly Index (2009Q1=100) Starts pending
Country page Country list

Producer Price Index (PPI)

Measures the average change over time in the selling prices received by domestic producers for their output.

Monthly %YoY Starts pending
Country page Country list

Retail Sales

Measures change in the total value of sales at the retail level.

Monthly Index (2025=100) Starts pending
Country page Country list

Trade Balance

The difference between the value of a country's exports and imports.

Monthly USD mn Starts pending
Country page Country list

Trade-Weighted Index (NEER)

Nominal Effective Exchange Rate (NEER) measuring the value of a currency relative to a basket of trading partners' currencies, weighted by trade volumes. Published monthly by the BIS.

Monthly Index (2020=100) Starts 2010-01-31
Country page Country list
Labor Market 4 pages

Labor Force Participation Rate

Ratio of the labor force to the working-age population.

Quarterly % Starts pending
Country page Country list
Money & Credit 3 pages

Narrow Money (M1)

Currency in circulation + transaction deposits. RBNZ column A.

Monthly SGD mn Starts pending
Country page Country list

M2 Money Supply

M1 + savings deposits (on-call). RBNZ derived: column A + B1.

Monthly SGD mn Starts pending
Country page Country list

Broad Money (M3)

M1 + savings + term deposits. RBNZ column A+B (broadest aggregate).

Monthly SGD mn Starts pending
Country page Country list
Monetary Policy 1 pages

Central Bank Policy Rate

Primary interest rate set by the Central Bank.

~2x/year % Starts pending
Country page Country list
Government Bond Yields 5 pages
Additional Indicators 3 pages

Tracked Singapore data catalogue

Coverage families already represented in the FXMacroData catalogue, including pages whose detailed docs are still pending.

Economy 11 tracked

Business Confidence

Survey-based measure of business executives' outlook on economic conditions, production, and investment plans.

Published page Quarterly Singapore Department of Statistics Starts pending
Country page Compare countries

Consumer Confidence

Survey-based measure of consumers' confidence in economic conditions, employment prospects, and personal finances.

Published page Quarterly National Statistics Office Starts pending
Country page Compare countries

Core Inflation

CPI excluding volatile items like food and energy.

Published page Monthly DOS / MAS Starts pending
Country page Compare countries

Current Account Balance

Measures trade in goods and services and income flows.

Published page Quarterly IMF IFS Starts pending
Country page Compare countries

Gross Domestic Product (GDP) Growth

GDP growth: the quarterly change in the inflation-adjusted value of all goods and services produced in the economy.

Tracked in catalogue Quarterly DOS Starts pending
Compare countries

House Price Index

Measures changes in residential property prices over time, reflecting housing market conditions and consumer wealth.

Published page Quarterly URA / DOS Starts pending
Country page Compare countries

Inflation Rate (CPI/HICP)

Headline inflation: the year-over-year percentage change in the Consumer Price Index (CPI), the standard measure central banks target.

Tracked in catalogue Monthly DOS Starts pending
Compare countries

Producer Price Index (PPI)

Measures the average change over time in the selling prices received by domestic producers for their output.

Published page Monthly National Statistics Office Starts pending
Country page Compare countries

Retail Sales

Measures change in the total value of sales at the retail level.

Published page Monthly DOS Starts pending
Country page Compare countries

Trade Balance

The difference between the value of a country's exports and imports.

Published page Monthly IMF IFS Starts pending
Country page Compare countries

Trade-Weighted Index (NEER)

Nominal Effective Exchange Rate (NEER) measuring the value of a currency relative to a basket of trading partners' currencies, weighted by trade volumes. Published monthly by the BIS.

Published page Monthly MAS Starts 2010-01-31
Country page Compare countries
Labor Market 5 tracked

Labor Force Participation Rate

Ratio of the labor force to the working-age population.

Published page Quarterly MOM Starts pending
Country page Compare countries

Unemployment Rate

Percentage of the labor force that is unemployed.

Tracked in catalogue Quarterly MOM Starts pending
Compare countries
Money & Credit 3 tracked

Narrow Money (M1)

Currency in circulation + transaction deposits. RBNZ column A.

Published page Monthly MAS Starts pending
Country page Compare countries

M2 Money Supply

M1 + savings deposits (on-call). RBNZ derived: column A + B1.

Published page Monthly MAS Starts pending
Country page Compare countries

Broad Money (M3)

M1 + savings + term deposits. RBNZ column A+B (broadest aggregate).

Published page Monthly MAS Starts pending
Country page Compare countries
Monetary Policy 2 tracked

Central Bank Policy Rate

Primary interest rate set by the Central Bank.

Published page ~2x/year MAS Starts pending
Country page Compare countries

Risk Free Rate

Overnight lending rate between banks.

Tracked in catalogue Daily MAS Starts pending
Compare countries
Government Bond Yields 5 tracked
Additional Indicators 3 tracked

SGD market drivers

Evergreen macro forces to keep beside the country data table.

Driver 1

MAS policy-band parameters: slope, width, and re-centring decisions.

Driver 2

Singapore CPI-All Items and MAS Core CPI.

Driver 3

Singapore non-oil domestic exports (NODX) and GDP advance estimates.

Driver 4

China and ASEAN growth — Singapore is a regional trade hub.

Driver 5

US dollar moves and US Treasury yields.

Driver 6

SORA-SOFR differential and global risk sentiment.

SGD questions traders ask

Currency-specific context that helps interpret the country data before moving into endpoints or dashboards.

Why does Singapore use exchange-rate-based monetary policy?

Singapore is a small, highly open economy where imports and exports are each over 100% of GDP. The exchange rate has a much stronger effect on domestic prices and growth than interest rates, so the MAS targets the trade-weighted SGD as its primary policy lever.

What is the S$NEER?

The S$NEER is the Singapore-dollar nominal effective exchange rate — a trade-weighted basket of currencies of Singapore's main trading partners. Its exact composition and weights are not disclosed by the MAS.

How often does the MAS meet?

The MAS publishes its semi-annual monetary policy statement twice a year, typically in April and October. Off-cycle moves are rare but possible in exceptional circumstances.

Explore other countries

Move laterally into another country hub while keeping the same indicator-first structure.

Argentina (ARS) Australia (AUD) Bolivia (BOB) Brazil (BRL) Canada (CAD) Chile (CLP) China (CNY) Colombia (COP) Czechia (CZK) Denmark (DKK) Eurozone (EUR) Hong Kong (HKD) Hungary (HUF) Iceland (ISK) India (INR) Indonesia (IDR)