The Japanese yen sunk to new lows against the Singapore dollar on Jan. 13, 2026.
It fell to as low as 123.53 yen per S$1 at one point on Tuesday before stabilising.
This was barely two months after the Japanese yen reached a new low to 120.6 yen to S$1 in November 2025.
Exactly five years ago, S$1 was worth 77.2 yen.
The Singapore dollar has strengthened by 60 per cent over the last five years.
Drop followed report of snap election
The drop followed speculation that Prime Minister Sanae Takaichi may call a snap election.
The report has also impacted Japan’s key stock indexes, which closed at record highs on Tuesday, reported Kyodo News.
The Japanese yen also hit close to 159 against the U.S. dollar, its lowest since July 2024.
Takaichi had reportedly told a senior ruling party official of her intention to dissolve parliament.
Top photo via Google
