Live and Historical USD/SGD Rates
This chart represents the value of the United States dollar (USD) against the value of the Singapore dollar (SGD) – how many Singapore dollars are necessary to purchase one US dollar. USD is a major commodity but SGD is not. In addition, USD/SGD forms neither a major pair nor a commodity pair.
Singapore has a disproportionately significant trade relationship with the US, considering the small size of the Singaporean economy. Some of this stems from the fact that so much of Singapore’s GDP is from services-many of which are exported to the US through the internet. As a tiny nation, any changes in its relationship with China have a huge impact on SGD. The same is true of political instability in Malaysia, from which Singapore gets many of its basic materials. Finally, decisions from the Fed never fail to have a strong impact on all USD related pairs.
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The U.S Dollar
The United States dollar is a very common currency on the international market. Many countries peg their currency to the United States dollar for the strength it provides. The United States dollar is a floating currency and has been since the early ’70’s, so USD value is reflected in consumer price indices as well as other major indicators. However, the Federal Reserve maintains strict power over the dollar’s value. The American economy is most influenced by business endeavors in manufacturing, finance, and agriculture. The dollar is the primary reserve currency internationally. More United States dollars are held outside of the United States than within.
The Singapore Dollar
Consistent growth of Singapore’s international trade has allowed the MAS (Monetary Authority of Singapore) to peg SGD’s value to a basket of undisclosed currencies from a group of countries. At this time, Singapore holds international assets to collateralize all currency in circulation, a practice meant to show strength in the world market. The SGD has risen fairly steadily in comparison to the USD since 1981. This speaks to the strict control the MAS has levied, though the SGD is considered a floating currency. SGD bank notes can be found in polymer and paper, with the polymer notes gradually taking over the paper notes in usage.