SGD INR has been holding strong over the past few weeks and even though INR has appreciated roughly 10% against the USD the appreciation against SGD has been roughly 5%.

Historic lows were 69 and 53 against USD and SGD and the currency trades at 62.5 and 50 as I write. SGD has shown stregnth as with its safe haven appeal.

The Long term implied rate for SGD INR tracks at 47 mark. Looking at long term trends the spot exchange rates tend to track back towards the long term implied rates.

In the short term I expect the pair to hover around the Rs, 50 mark with the direction being decided based on international events.