Forex (FX) Basics

Currency Pairs

USD/ SGD

USD = base currency

SGD = quote currency

i.e Buy USD, sell SGD

Minimum Price Increment: 0.00001 ( 0.1 pip)

Settlement: T+2

e.g USD.SGD 1.3703 means 1 USD is worth 1.3703 SGD
So the ideal rate is 1:1   ie. Using 1 SGD to exchange for 1 USD