EUR/SGD is a trading instrument of the Forex interbank currency exchange market. Reflects the ratio Euro and Singapore dollar.
Definition
The presented pair belongs to the group of exotic currency pairs. It has an average prevalence in the Forex market. The currency ratio shows how many Singapore dollars are needed to make a purchase of one euro. In the presented currency pair, the euro acts as a base, and the Singapore dollar can be converted. On quotes of the currency ratio are influenced by the following factors: events in the Eurozone, the sovereign rating of Singapore, events in the financial markets in the world.
Indicators of the currency pair
The presented currency pair has a high indicator volatility and spread. The spread for this pair can reach about 8000 points and exceed the spread of the base currency. Since the end of 2009, there has been a collapse in prices for this pair. At the moment, trading on this pair occurs in the range from 1.6 to 1.8 (on average, 1.5 Singapore dollars per euro).
Features of the currency pair
The peculiarity of this pair is that all changes in quotations are associated with changes in the euro exchange rate. Due to a number of reasons, the EUR/SGD is dominated by a bearish trend.
Other information
Analysts predict two possible ways of development for the presented pair: the continuation of the pair's existence in the current corridor or the achievement of an absolute minimum. There is also a possibility that the price level may rise to 1.9 Singapore dollars per euro.