The SGDJPY is the Forex quote for the Singapore dollar versus the Japanese Yen. Singapore has a highly developed and successful free-market economy. It has one of the most competitive economies in the world. The Singapore dollar is allowed to fluctuate within an undisclosed policy band which is monitored by the Monetary Authority of Singapore. The economy relies largely on the export of consumer electronics, information technology products, pharmaceuticals, and financial services. Japan, on the other hand, has a slower economic growth. It keeps interest rates at near-zero (lower-yielding currency), making JPY a popular carry trade currency against other higher-yielding currencies. The currency pair offers a contrast between the two economies it represents.