GBP/SGD

Singapore’s status as one of the primary financial hubs in Asia makes the EUR to SGD pair a vital one for those traders seeking opportunities to invest in the global forex market. Both of these currencies, although relatively new in their conception, have become among the most frequently traded in the world.

According to the Bank for International Settlements, the Euro was ranked second on that list as of 2016, behind only the United States dollar, while the Singapore dollar sat 12th. Singapore is the 20th smallest country in the world, but it represents the European Union’s 14th biggest trade partner in terms of goods – further evidence of the importance of the EUR to SGD rate to forex traders worldwide.

As of November 2019, the EU and Singapore entered into a trade agreement, which represented the EU’s “first bilateral trade agreement with a Southeast Asian country, a building block towards a closer relationship between Europe and one of the most dynamic regions in the world.”

Under the terms of the deal, Singapore will remove tariffs on EU products as well as other obstacles to trade, such as recognising the EU’s safety tests for cars and electronic appliances. With 27% of EU goods exports to Singapore made up of machinery and appliances while minerals (14%) and chemicals (13%) also feature heavily, prospective traders tracking EUR to SGD news may wish to monitor any trends across those sectors.

Our EUR to SGD chart offers you the chance to keep tabs on the performance of this forex pair in real time. Current and future traders can also track the EUR to SGD rate over the past hour, day, week or month, which can help to identify any developing trends to inform their forex trading decisions. However, the EUR to SGD chart should not be taken as a guarantee or prediction of any performance in the future.