Live and Historical GBP/SGD Rates
This chart shows the value of the British pound (GBP) against the Singapore Dollar (SGD) – that is the how many SGD will purchase one pound. The British pound is a major currency, but the Singapore dollar is not. SGD/GBP does not form a commodity pair or a major pair.
Clearly, Singapore and the UK occupy to separate economic zones in the world. In addition, Singapore is a very small country, but it has exercised disproportionate economic influence. That nation has also been surprisingly international in scope, making GBP/SGD more significant than might be assumed. Singapore is heavily dependent on services and finance-many of which relate directly to the UK. Some of the biggest volatility is political, as Singapore leverages against much larger Asian countries for trade relations and security. Singapore has also remained stable and growing. Therefore, this pair is useful for some carry trades, depending on the value trends at work in GBP.
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The British Pound
The British pound is the oldest currency still being traded in the world market. Controlled by the Bank of England, GBP has enjoyed good success in the current system and has one of the highest values. As a member of the European Union, world analysts wait to see how long the United Kingdom can hold out on adopting the euro as its currency. In the beginning of 2008, inflation set in on GPB, but it was not enough to change the official stance. Primarily, the United Kingdom exports in the following sectors: manufacturing, agriculture, energy, and services.
The Singapore Dollar
Upon declaring independence from Malaysia in 1965, Singapore developed its own currency-the Singapore Dollar. In early years it was pegged to both the British pound and the US dollar, but the growth of Singapore’s international trade allowed the MAS (Monetary Authority of Singapore) to tie the value of the SGD to a basket of undisclosed currencies. Singapore now holds international assets to collateralize all currency in circulation, a practice meant to give it an impression of strength in the financial community. The SGD has risen fairly steadily in comparison to USD since 1981, which speaks to the oversight of the MAS.