US DOLLAR / SINGAPORE DOLLAR Trading
The USD/SGD is an exotic pair. The Singapore dollar (SGD) has served as a speculative investment haven back in time. What played a major role was Singapore’s high-interest rates, higher growth rates, less developed labour markets, and capital control. This peculiar cοmbination of features makes SGD a widely-traded currency.
History of USD SGD Trading
The USD dates back to 1792, when the United States Congress created the US dollar as the official country’s currency. It serves as legal tender in many countries, and it is the most widely used currency in the world both in circulation and reserve. The US dollar forms the majors as it pairs with all main currencies in the foreign exchange market (forex).
The Singapore dollar (SGD) was first issued in 1965 after the breakdown of the monetary union between Malaysia and Brunei. Since the financial crisis in 2007, the SGD became one of the best-performing currencies. The Singapore dollar became a popular destination for offshore investors and is the 12th most traded currency worldwide, and the 3rd most in Asia.
|USD/SGD Forex Chart|
|Minimum Nominal Trade Size: 1000|
|Overnight Interest (daily) Sell: -2.11%|
|Overnight Interest (daily) Buy: -5.42%|
|Trading Hours (GMT): 24/5|
|MT5 / MT4 Symbol: USDSGD|
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