USD/SGD

USDSGD CFD is a product offered by OANDA, and is a currency pair that represents the value of the US dollar against the Singapore dollar.

The US dollar, issued by the United States, is circulated worldwide and holds the largest share in global foreign exchange. The 2022 BIS Triennial Central Bank Survey states that currency pairs involving the US dollar account for 88.4% of all currency trading. Additionally, many countries adopt the dollar-peg system, meaning their currencies are tied to the value of the US dollar. According to the 2022 IMF report, 37 countries and regions use the dollar-peg system, accounting for approximately 20% of IMF member states.

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 USD/SGD currency pairing will be influenced by the differences in the US and Singaporean economies, and also the global trade environment.