GBPSGD Live Chart, Exchange Rate & Analysis | Trade GBPSGD

Interesting facts about the GBPSGD (British Pound to Singapore Dollar)

The British pound (GBP) is one of the oldest and the most stable currencies in the world. From the 18th century till World War II, the British pound sterling was one of the most important currencies in the world economy. Afterward, the level of GBP’s importance diminished due to the growing influence of the United States. Nowadays, in the UK, the currency is simply called the pound, but the term pound sterling is used to emphasize the difference between the currency and other currencies with the same name. At the same time, the words "sterling" or "cable" are used on the exchange.

The Singapore dollar (SGD) is the Singapore national currency. It was initially pegged to the pound sterling. In 1972, the Singapore dollar was pegged to the United States dollar in response to the devaluation of the pound, and from 1973 to 1985, the Singapore currency was pegged to a number of currencies of major trading partners (the TWI index). Since 1985, the Singapore dollar has been subject to a managed float rate. The Monetary Authority of Singapore controls the Singapore dollar. Monetary policy in Singapore is aimed at strengthening the currency.

The Brunei dollar, which is pegged to the Singapore dollar at a rate of 1:1, is also recognized as a legal means of payment in Singapore. At the same time, the Brunei dollar can be used as "customary tender" in Singapore. The price movement of the Singapore dollar is correlated with the level of investment activity and macroeconomic performance in the Asia-Pacific region. In addition, the Singaporean currency is sensitive to inflation and domestic demand.

The GBP/SGD pair is highly volatile, so the best times to trade GBP to SGD are during the European and Asian trading sessions. The European trading session lasts from 10:00 to 19:00. The Asian session is from 03:00 to 11:00 (GMT+3, indicated in LiteFinance trading platform).