Definition – What does Singapore Dollar (SGD) mean?
The Singapore dollar is the official currency of Singapore. The Singapore dollar is issued by the Monetary Authority of Singapore. Although the Singapore dollar is often considered an exotic currency, Singapore has one of the most-developed free-market economies in Asia.
ForexTerms explains Singapore Dollar (SGD)
The Singapore dollar was pegged to the British pound and then the U.S. dollar until the mid 1980s. Since that time, the Singapore dollar has floated on the open market. The Monetary Authority of Singapore is believed to be quite firm on the band within which it believes the value of the dollar should fluctuate. As Singapore is one of the strongest financial centers in the world, the Monetary Authority has large capital reserves with which to influence the exchange rates.