The sgd to yen (SGDJPY) pair is a minor currency pair in the foreign exchange market, which represents the exchange rate between the Singapore Dollar (SGD) and the Japanese Yen (JPY). Here's how the conversion works: For example, if the SGDJPY exchange rate is 80.00, then 1 Singapore Dollar is equal to 80 Japanese Yen, and 1 Japanese Yen is equal to 0.013 Singapore Dollars.
The pair was first introduced in the late 1980s when Singapore's economy was booming and the country was becoming a major financial hub. Since then, the exchange rate between the two currencies has been influenced by various economic and political factors, such as interest rate differentials, trade relations, and global market sentiment.
The SGDJPY price history has been volatile and influenced by various economic and political factors. In the early 1990s, the SGDJPY exchange rate was around 100 JPY, but it gradually declined over the next decade due to the Asian Financial Crisis and the dot-com bubble. From 2003 to 2007, the pair was relatively stable, hovering around 80 JPY. However, the global financial crisis of 2008 caused the pair to fall to around 65 JPY.
In the years following the crisis, the pair rebounded, reaching a high of 104 JPY in 2011. However, it then entered a period of decline, dropping to around 75 JPY by the end of 2015. In recent years, the SGDJPY pair has been affected by factors such as the COVID-19 pandemic, trade tensions between the US and China, and changes in monetary policy by the Bank of Japan and the Monetary Authority of Singapore.
Traders may consider trading SGDJPY pair for several reasons, such as diversification of their portfolio and taking advantage of economic developments in Singapore and Japan. The Singapore economy is known for its stability, while the Japanese yen is often considered a safe-haven currency, so the pair can offer a balance of stability and risk.
Other currency pairs that traders may consider include USDJPY, EURJPY, AUDJPY, and CADJPY, which are all major currency pairs involving the Japanese yen. Additionally, traders may consider other minor currency pairs involving the Singapore dollar, such as SGDUSD, SGDCAD, and SGDCHF. As with any trading decision, traders should conduct their own research and analysis before making a decision to trade any currency pair.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.