NZD/SGD

NZD/SGD CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the New Zealand Dollar against the Singapore Dollar.  

The New Zealand Dollar, issued in New Zealand, is heavily influenced by commodity prices, particularly dairy and agricultural exports. New Zealand's economy is closely tied to these sectors.  

The Singapore Dollar, issued in Singapore, is managed by the Monetary Authority of Singapore (MAS) through an exchange rate policy, where it is allowed to fluctuate within a policy band against a trade-weighted basket of currencies.

Singapore's economy is heavily reliant on trade, finance, and manufacturing. Therefore, the NZD/SGD currency pairing will be influenced by the relative economic performance and monetary policies of New Zealand and Singapore, and also the global trade environment and commodity markets.