The EURSGD currency pair tells about the Eurozone and Singapore Dollar exchange rate. In this pair, Euro is the base currency, and SGD is the counter or quote currency.

What is EURSGD?

The EURSGD is a minor currency pair, not actively traded as major currency pairs. However, it is still a vital pair for traders interested in trading the Euro against emerging markets currencies or taking advantage of opportunities in the Singaporean economy.

Singapore is Asia's trading hub and has offices of many multinational corporations. Its economy is highly dependent on chemicals, pharmaceuticals, and electronics exports. In comparison, the Eurozone economy is one of the world's largest economies because of high levels of global trade, a diversified economy, and a stable political environment is essential to understand how to trade EURSGD.

How does EURSGD work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURSGD start without risking their real assets. If Singapore's export is disturbed due for any reason, it causes the currency to depreciate against EURO. As a result, the EURSGD value goes high. It's because more SGDs will be required to purchase one EURO. Besides the economy, central bank policies, political events, and market sentiment are also critical factors that lead to fluctuations in the EURSGD exchange rate.

EURSGD price history

The EURSGD price has experienced many fluctuations over the years. Here's the last year's performance of the currency pair.

Investors must remember that referring to the past performance of this asset may not be a reliable indicator of future results.

2018

On 1st January 2018, the EURSGD was at 1.6065 SGD; on the last date of the year, the value was 1.5659 SGD. The year's outstanding exchange rate performance was 1.6445 SGD on 3rd February 2018, and 1.5488 SGD was the terrible value recorded on 4th December 2018. The average exchange rate of the year was 1.5928 SGD.

2019

At the beginning of the year, the exchange rate value was 1.5622 SGD; by its end, it was 1.514 SGD. The year's best and worst exchange rate values were 1.563 SGD on 10th August 2019 and 1.4978 SGD on 9th November 2019. The average rate of the year was 1.5275 SGD.

2020

On 1st January 2020, the EURSGD was at 1.5092 SGD; on 31st December 2020, it was at 1.6149 SGD. The year's superb value was 1.6305 SGD on 21st December 2020, and the worst was 1.4898 SGD on 24th January 2020. The average EURSGD value of the year was 1.5742 SGD.

2021

The year started with the EURSGD price at 1.6037 and closed at 1.5335 SGD. The best exchange rate of the year was 1.6267 SGD, and the worst value was 1.5308 SGD on 30th December 2021. The average value of the year was 1.5894 SGD.

2022

The year was initiated when the EURSGD was at 1.5339 SGD and ended at 1.4379 SGD. The best exchange rate of the year was 1.5426 SGD, and the worst rate was 1.3799 SGD on 27th September 2022. The year's average was 1.4518 SGD.

Current EURSGD price

The current EURSGD price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURSGD a good investment?

Whether EURSGD is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors worldwide.

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