Convert SGD to PHP
The exchange rate of SGD/PHP experiences considerable volatility on the release of important economic data from Singapore and the Philippines, including GDP, employment rate, inflation, trade balance, PPI, PMI readings from manufacturing and services sectors, retail sales, and industrial production.
The values of both SGD and PHP experience changes on the release of monetary policy and interest rate decisions by the Monetary Authority of Singapore (MAS) and the Bangko Sentral ng Pilipinas (BSP). For instance, if the BSP decides to hike rates, the PHP turns stronger, causing SGD/PHP to trade bearish, and vice versa.
SGD/PHP touched a high of 38.00 on 6 January 2020. This was the strongest level this currency pair has traded at in 2020.