A target range of 4% around an exchange rate of SGD 5.00 per GBP. The lower bound is computed as:

		5 x 0.96
		5 /1.04

Crawling peg is suitable for countrys whose currency:

		has a lower nominal interest rate as the reserve currency
		experiences higher inflation than the reserve currency.

Speculative attacks are more likely in the case of:

		a floating rate currency.
		acurrency that has a fixed exchange rate against another currency.