The currency pair Singapore dollar to the Japanese yen is not popular in the Forex market. This financial instrument is extremely susceptible to events occurring in the world, as a result, the movement of this currency pair is difficult to predict. Trading this pair can be difficult for novice traders.
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 largest share, which reaches almost 70% in the structure of Singaporean exports are high-tech products, a little more than 10% accounted for the share of 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.
The Ministry of Finance of Japan has a great influence on the Japanese yen, which can provoke sharp fluctuations of the yen's rate by unexpected statements. The actions of the central bank of Japan are also reflected in the national currency. An important indicator is the discount rate of the Bank of Japan. The rate is set to stabilize the economic situation in the country. Important indicators of GDP and a quarterly report on the largest state-owned companies (Tankan). Beginners are not recommended for this pair because of its unpredictability.
The currency pair SGD / JPY is built on the principle of direct quotation. The base currency is SGD, the Singapore dollar, and the quoted currency is JPY, the Japanese yen. The growth of the currency pair means the strengthening of the Singapore dollar against the Japanese yen, that is, the purchase of one SGD requires more JPY. The depreciation causes the strengthening of the Japanese yen.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Singapore dollar - (bank code: SGD) - the national currency of the Republic of Singapore (Republic of Singapore). To him 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.
Japanese yen - (yap. 円 en, currency symbol - ¥, bank code: JPY) - the currency of Japan, one of the main reserve currencies in the world. The issuing center is the central bank of Japan.
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