SGD HKD Trading
Introduction to the SGD/HKD Forex Pair
For this currency pairing, the core currency is the SGD (Singapore dollar), the currency counter is the HKD (Hong Kong dollar). The SGD to HKD chart is the currency pair of the Singapore dollar to the Hong Kong dollar. When measured against the HKD, it reflects how much the SGD is worth. The SGD/HKD is called an unusual pair of currencies and so traders have traditionally used the Singapore dollar as a refuge for trading.
About the SGD
Singapore became a sovereign country in 1965 recognized as the Republic of Singapore. The country set up the Board of Currency Commissars which introduced the Singapore dollar. The first series of banknotes was issued in 1967. Such notes were known as ‘Orchid’ notes and until 1973 were exchangeable at par with the Malaysian dollar. The currency was originally set at a rate of 60 SGD to 7 GBP. The currency indexed back to the US dollar and then to a weighted currency basket. The Singapore dollar embraced a market-oriented policy in 1985 and was allowed to float, though closely watched. In 2002, the BCC was dissolved, and the board’s functions were transferred to the Singapore Monetary Authority.
About the HKD
Technical Analysis For SGDHKD
Fundamental Analysis For SGDHKD
What Drives the SGD/HKD Pair?
When is the Best Time to Trade the SGD/HKD Pair?
SGD/HKD Average Trading Volumes
The average trading price in the past one year for the pair has stood at 5.65128, and the average trading volume for the past year is 84,088.73180. The volatility of the pairs has moved from 4.06% in the last 5 years to 4.43% in the last one and in the last 6 months stands at 5.57%. In the past 10 years performance is described with the following values:
SGD/HKD close: 5.46823; low: 5.32395; high: 6.48773
It is unlikely although not a certain fact. The Singapore government wants a strong Singapore dollar so that they can have more buying power. This should ensure policies are put in place that positively affect the SGD.