The EUR/SGD spot figure concerns the trading relationship between the euro and the Singapore dollar.
Two years after Singapore's independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down. Singapore issued its first independent coins and notes in 1967. Interchangeability with the Brunei dollar is still maintained.
Economic data is the chief factor affecting the euro exchange rate, with information on gross domestic product (GDP), consumer price index and trade balance across the eurozone all having a significant impact.
Other crucial factors include the budget deficits of the 17 eurozone countries, which must remain under three per cent of GDP.