The Singapore dollar is without a doubt one of the world’s best currencies. With an exchange rate of close to 1.3 against the US Dollar, it is arguably the best Asian currency right now, though not necessarily the strongest of all. The rise of this city-state economy has been described by most observers as perhaps one of the most spectacular success stories yet. In less than a hundred years, the Singapore dollar has achieved what it took others centuries to achieve. And though this phenomenon is looked at differently by different players, not one of them can deny that Singapore is top (or thereabout) on their list of preferred currencies.
Although many financial experts like to downplay the importance of this fact, a country’s history has an important bearing on the long term strength and value of its currency. The history of this small country is proof enough of how important a good history is for a country.
The secret to a strong currency especially in modern times is diversification of the economy. This apparently is no secret for Singapore, whose economy offers so many opportunities for investors. Banking, airlines, tourism, to mention but a few, are some of the many options for investors interested in the Singapore dollar, or the economy. If you intend to do any investments in this economy presently, then you will be spoilt for choice.
Currently trading at between 1.3 and 1.4 against the US Dollar, with very good consistency in terms of rates, the Singapore is a strong currency and you would expect even better. This is also fuelled by the fact that it’s economy is not dependent crude oil prices and other raw materials that would otherwise be quite bother due unpredictability.
As such, it is naturally expected that the Singapore dollar will continue to be a formidable currency the world over. More people will continue to buy this safe haven currency with great promise of some handsome returns. This makes it one among the world’s largest foreign exchange markets, which it already is anyway, and a force to reckon with on the global front.
Information on the currency, its rates and expert opinion on how to invest is available online on many sites and all you have to do is consult your internet search engine. However, don’t just jump with common spirits, or fall for online advertisements that could well be run by conmen. Make sure to do some intensive consultations so that you become part of the success story in Singapore.
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