The New Zealand dollar may hardly be called a popular financial instrument for the Singapore dollar.
The economy of New Zealand is based on agriculture, primarily the production and processing of dairy products and sheep wool, which is exported all over the world. The country aspires to receive electricity from renewable sources, which in 2018 completely closes coal generation. After filming the kinotrilogy "The Hobbit" and "The Lord of the Rings" in New Zealand, the tourist business began to develop actively.
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.
Singapore is a very developed country in Asia, it is part of the "Four Asian Tigers" - an unofficial name for the economies of South Korea, Singapore, Hong Kong and Taiwan, which showed very high rates of economic development from the early 60s to the crisis of the 1990s.
The NZD / SGD currency pair is built on the principle of direct quotation. The base currency is NZD, New Zealand dollar, and quoted - SGD, Singapore dollar. The growth of the currency pair means the strengthening of the New Zealand dollar against the Singapore dollar, that is, the purchase of one NZD requires more SGD. A decrease in the exchange rate indicates the strengthening of the Singapore dollar.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
New Zealand Dollar - (bank code: NZD) - often referred to as "kiwi" - the official currency of New Zealand, also on the islands: Niue, Cook Islands, Tokelau and Pitcairn. The central bank of the country that also issues currency is the Reserve Bank of New Zealand. Since 1999, New Zealand dollars have been printed on plastic.
Singapore dollar - (bank code: SGD) - the national currency of the Republic of Singapore (Republic of Singapore) is also 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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