USDSGD is a currency pair that includes the US dollars, denoted by USD, and Singapore dollars, represented by SGD. It tells about the exchange rate between the two currencies. The USDSGD exchange rate indicates the number of SGDs required to purchase a USD.

What is USDSGD?

The USDSGD is an exotic pair, with USD as the base currency and SGD as the quoted currency. It's the 10th most globally traded currency pair in the forex market. The pair's popularity is due to the strong correlation between the currencies. Moreover, the pair has high interest yields, making it ideal for carry trading. The U.S. is the wealthiest economy with the highest per capita income. It's a reserve currency, and fluctuations in its value have a direct impact on many other currencies. On the other hand, the economy of Singapore is growing rapidly after COVID-19 and is a prominent investment spot for traders looking to invest in Asia. The reason is the high interest and growth rates in the area. Moreover, the Singaporean economy is also dependent on exports, which means the fluctuations in SGD significantly impact the USDSGD exchange rate. Some factors that cause fluctuations in the USDSGD exchange rate include economic growth, political stability, interest rates on the currencies, and global trading conditions. Investors eager to learn how to invest in USDSGD must consider these aspects carefully.

How does USDSGD work?

Traders and investors profit from the USDSGD by trading in the forex market. They do so by speculating on the future movement of the exchange rate using various financial instruments. When there are chances of profit, they take the necessary position, i.e., buy or sell the pair.

The currency pair works by trading on various platforms, like SimpleFX. First, the trader needs to open an account. SimpleFX provides a demo account where investors can learn how to trade USDSGD. It gives access to the simulation of real-time market conditions without financial risks. The USDSGD works via buying and selling on the forex market. Traders use financial instruments and speculate on the exchange rate movement.

USDSGD price history

Here’s how the USDSGD performed in the last five years:

2018

The USDSGD price on 1st January 2018 was 1.3375 SGD, and on 31st December, it was 1.3626 SGD. The best exchange rate of the year was 1.3853 SGD on 30th October, and the worst value was 1.307 SGD on 28th January, with the year's average of 1.3493 SGD.

2019

This year commenced with USDSGD at 1.3629 SGD and ended at 1.3488 SGD. The pair's best performance was 1.3917 SGD on 25th August, and the worst value was 1.3458 SGD on 20th March, with an annual average value of 1.3641 SGD.

2020

The year began with USDSGD at 1.3453 SGD and wrapped at 1.322 SGD. The pair performed excellently on 23rd March with an exchange rate of 1.457 SGD. Likewise, the worst performance was 1.322 SGD on 31st December. The year's mean exchange rate was 1.3795 SGD.

2021

On 1st January 2021, the USDSGD was at 1.3217 SGD; after many fluctuations, the exchange rate finally was 1.3486 SGD on 31st December 2021. The year's best and worst exchange rates were 1.3725 SGD on 4th December and 1.3174 SGD on 5th January, with an annual average value of 1.3439 SGD.

2022

At the beginning of 2022, the USDSGD price was 1.3486 SGD, ending at 1.3406 SGD with the best value of 1.4391 SGD on 27th September. However, the worst exchange rate was 1.3406 SGD, on which the year ended.

Current USDSGD price

The current USDSGD 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 USDSGD a good investment?

Whether USDSGD 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.

Trade USD/SGD the Simplest way.

Trade USDSGD

Don't have an account yet?

Open it!