The SGD/USD Spot allows traders to know how many US dollars they will receive for every Singapore dollar they exchange.
As the most traded money in the world, the US currency has a very influential role in the forex markets, whereas its Asian counterpart is 12th in the same list and is considered a 'minor'.
In addition to its popularity in the fx world, the greenback is the currency most used in international transactions and it also serves as a reserve money.
Economic reports on inflation, unemployment, interest rates, debt levels and trade are key factors in the price of both the US and the Singapore dollar.
A good example of how such events can devalue a currency could be seen midway through 2011, when the US government struggled to agree on a new debt ceiling and looked like it could default.
Investors reacted by seeking other safe-haven monies and the greenback's price fell.
Over the past 30 years, the US has adopted a policy of achieving a stable rate of inflation and this has led to the dollar halving in value against certain other currencies.
The country also produces a wide range of commodities - such as oil, gold, silver, copper and wheat - and their price fluctuations can have an impact on the strength of the dollar.