What kind of currency is SGD?
Table of Contents
What kind of currency is SGD?
the Singapore dollar
SGD is the abbreviation for the Singapore dollar, which is the official currency of the island state of Singapore. The Singapore dollar is made up of 100 cents and is often presented with the symbol S$ to set it apart from other dollar-based currencies. It is also known as the “Sing.”
What are the exotic pairs?
List of exotic currency pairs
- AUD/NOK (Australian Dollar/Norwegian Krone)
- AUD/PLN (Australian Dollar/Polish Zloty)
- AUD/SEK (Australian Dollar/Swedish Krona)
- AUD/SGD (Australian Dollar/Singapore Dollar)
- CAD/SGD (Canadian Dollar/Singapore Dollar)
- CHF/SEK (Swiss Franc/Swedish Krona)
- CHF/SGD (Swiss Franc/Singapore Dollar)
What are the exotic pairs in forex?
Exotic Currency Pairs
| Pair | Countries |
|---|---|
| EUR/TRY | Euro/Turkish Lira |
| USD/SEK | US Dollar/Swedish Krona |
| USD/NOK | US Dollar/Norwegian Krone |
| USD/DKK | US Dollar/Danish Krone |
What is an exotic currency?
An exotic currency is a foreign exchange term for a thinly traded currency. Exotic currencies are illiquid, lack market depth, can be extremely volatile, and trade at low volumes. Trading an exotic currency can be expensive, as the bid-ask spread is usually large to compensate for the lack of liquidity.
Should you trade forex exotics?
Exotic forex pairs can provide you with an opportunity to diversify your trading. Exotic currencies have a higher level of volatility, which increases the risk of trading them, but also offers the chance of finding trading opportunities should there be none in the major FX pairs.
Why is the Singapore Dollar strong?
(1) inflation. Singapore has relatively low levels of inflation, and that causes currency values to rise. (2) interest rates – Singapore’s low interest rates lead to a strong SGD.