Currency pair Euro - Singapore dollar (EUR / SGD).
The European economy is steadily growing, which is reflected in the euro exchange rate. By 2018, unemployment rates in a number of countries are at a minimum level.
The highest share (70%) in the structure of Singaporean exports is held by high-tech products, while just over 10% is accounted for by fuel and energy products. A highly developed economy and a steadily growing financial services sector have transformed Singapore into a financial center of Southeast Asia. All this together influences the rate of the Singapore dollar on Forex.
It is believed that the currency pair EUR / SGD is difficult to predict, and often changes direction suddenly. It is influenced both by the economic indicators of the Eurozone, and the situation in South-East Asia.
The currency pair EUR / SGD is built on the principle of direct quotation. The base currency is EUR, euro, and quoted - SGD, Singapore dollar. The growth of the currency pair means strengthening of the euro against the Singapore dollar, that is, to buy one EUR, more SGD is required. The downgrade indicates the strengthening of SGD. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
Singapore dollar - (bank code: SGD) - the national currency of the Republic of Singapore (Republic of Singapore) is attached the Brunei dollar in the ratio 1: 1. The Monetary Authority of Singapore acts as the central bank of Singapore, and also pursues monetary policy, issuing banknotes, oversees payment systems, oversees financial services and monitors financial stability.
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