About the AUD/SGD rate
The AUD/SGD rate is how many SGD one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/SGD rate history.
The other directions of this rate: the reverse rate, SGD → AUD, is on the receiving Singapore dollar view, and sending Australian dollars to Singapore is covered on the AUD → SGD transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
Policy run through the exchange rate
Singapore runs monetary policy through its currency rather than through a policy rate, and the Monetary Authority says why in plain terms. Gross exports and imports of goods and services are more than 300 per cent of GDP, and domestic spending has a high import content, so "the exchange rate has a much stronger influence on inflation than the interest rate". The framework therefore manages the Singapore dollar against a trade-weighted basket of currencies, an intermediate target called the S$NEER, kept within the boundaries of a policy band, and the tool for keeping it there is intervention in the spot foreign exchange market. At each review the Authority may change the slope of the band, its width, or the level at which it is centred, and it says which.
A country that chooses the exchange rate as its instrument cannot also choose its own interest rate. Singapore's rates are largely inherited from abroad, and Singapore has taken that trade knowingly.
A second arrangement sits alongside it, and it is older. Under the Currency Interchangeability Agreement established in 1967, the Brunei Darussalam Central Bank and the Monetary Authority accept the currency notes and coins issued by the other and exchange them at par and without charge. Banks in both countries accept the other's currency for deposit from the public and from businesses, at par and without charge, and the Authority tells Singaporeans that they need not be concerned about accepting payment in Brunei currency.
Enough regional business is invoiced in Singapore dollars that an Australian can need the currency without ever going there, and the framework above is the reason the invoice behaves as it does. A currency steered along a band appreciates or depreciates on a path the central bank has chosen, which is a different thing to price against than a currency left to find its own level.
Sources: Monetary Authority of Singapore, Singapore's monetary policy framework · Monetary Authority of Singapore, Brunei-Singapore Currency Interchangeability Agreement