To successfully conduct business, engage in business and commerce, it is necessary to show flexibility of mind and look for new ways to solve these or other problems. Nowadays - the century of new technologies and emerging opportunities - for interacting with new, previously unexplored sources of income, only a lazy businessman will not look for certain ways to develop his business that could take him to a new level. An ambitious person will always find an option that best suits the needs of the business.
Working with currencies that are not too well-known, and therefore not "popular" for our entrepreneurs (and the Singapore dollar is one of them) is one way to make your deposits reliable, protecting them from most of the inevitable risks. Nevertheless, the bulk of the
exchange rates is based on world monetary units, while the least common of them remain stable.
One of the Asian countries, whose currencies are becoming more attractive, is Singapore. This is a city-state with a rather complicated economic history. Initially, the official money of the country was the so-called "Straits Dollar". After much upheaval using the Malay and Borneo dollars, Singapore finally issued its own currency, which is known as the Singapore dollar.
After gaining independence in the middle of the twentieth century, the country was so poor that it had to buy even fresh water. And the Singapore dollar was at a very low level. However, encouraging foreign investors and a tough full-scale fight against corruption have done their job and turned the state in a few decades into one of the most prosperous countries in Asia, whose economy is based on high-tech electronics, working closely with major corporations and working with a large number of international partners.
It is not surprising that the Singapore dollar is very stable and profitable at the exchange rate. Therefore, it is quite attractive for Russian entrepreneurs. After all, the Singapore dollar to ruble exchange rate is very convenient for our businessmen.
At the moment, the currency of this Asian tiger is approaching the indicators of the leading financial states of the world. For 1 Singapore dollar they give more than 80 cents of the American currency.
This, of course, is not an accident. The country has an excellent predisposition to large investment flows, its own
transnational corporations and low taxation, along with low corruption and attractive conditions for foreign partners, who are attracted by the simplicity and clarity of economic legislation, which strengthen the Singapore dollar as a result.
Is it safe to invest in this currency? Practice says that yes, there are no problems with investments. And the point is not that there are no economic crises in Singapore. On the contrary, in 2001, the difficult situation in production significantly weakened the country's economy. But she managed to overcome this situation, and this is the main thing. In addition, the Singapore dollar is included in the list of currencies, the rate of which the Bank of Russia sets daily, which facilitates all kinds of operations with it.