USD/SGD (United States Dollar vs Singapore Dollar)
USD/SGD is involved in active trading on Forex. This currency pair is also called exotic. Rate fluctuations of this trading instrument are not significant. The Singapore dollar is one of the most stable currencies around the world. The economic situation in the country is characterized by very low inflation, robust exports, and huge foreign exchange reserves in the economy.
Singapore is a developed nation with high living standards. Advantageously located at the crossroads of major shipping routes, Singapore has managed to reach such level of development demonstrating an active trading with world's largest economies. At the moment, the country sells abroad home electronics and information technology products, shipbuilding products and financial services. Thus, country's economy and national currency both hinge upon export significantly.
Singapore is listed among the group of so-called "Asian tigers" thanks to the rapid development of its economy. In such a way, the country is approaching to the major Western economies such as the USA, Germany, France, Great Britain, etc.
If you trade USD/SGD, you should pay attention to the dynamics of EUR/USD, GBP/USD, and USD/JPY. These trading instruments are indicators of USD/SGD price movements since they greatly influence the rate of the national currency of Singapore.
If you trade USD/SGD, you should focus on economic indicators of Singapore as well as the global prices for oil and other minerals required to support the Singaporean economy.
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