In this guide we review :
- Travelling in Singapore - Practical tips
- Buying Singapore Dollar Cash Online - Travel money for Singapore
- Singapore Dollar (SGD) - Currency Market News
- Sending Money to Singapore - Save on Singapore Dollar bank transfers
- Singapore Dollar Exchange Rates - Latest info & charts.
Singapore Travel Practical Tips
Singapore is not cheap, but that aside it is a classy, and impressive place to visit. Singapore is expensive by Southeast-Asian standards, with everything costing about double what it does elsewhere in the region. Singapore can get very humid in summer, be ready for that when making travel plans. There is so much to do in Singapore, try to spend a few days, the food is amazing. That said, it can get pretty humid, so depending on your tastes decide on your travel time wisely.
There are plenty of buses and taxis around Singapore, but the Mass Rapid Transit (MRT) runs the length and breadth of the country. MRT tickets vary in price, as they are based on the distance traveled, but generally cost around 4 SGD. Travel on public transport is just 10 SGD per day for tourists with a Singapore Tourist Pass. This will get you unlimited rides on a number of buses and trains.
For the budget travelers the stalls here offer food for less than 6 SGD and are a great place to sample local snacks, otherwise eating out can cost you. If you struggle with finding your way around there is a very complex underground system that is very useful.
Travel Money for Singapore - Buying Singapore Dollar (SGD)
Save money and time by Ordering your Singapore Dollar Online from Travelex, you get better rates and can pick up the SGD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Singapore Dollar otherwise you may get much worst exchange rates.
Singapore Trip Checklist
- Compare SGD Travel Cash Rates - probably why you are here!
- Hotel Deals - Save on your accomodation in Singapore
- Travel Insurance - for those unexpected travel adventures...
- Lonely Planet - Travel Guide 3 for 2 offer
Singapore Dollar (SGD) - Currency Market News
The Singapore dollar has done little in recent months. More than halfway through October, USD/SGD and EUR/SGD stood at 1.357 and 1.603, matching their levels in late July.
Against the US dollar, SGD bulls are hopeful for another attack on 1.3350 – the major support level in USD/SGD. Previous attempts on the level failed in April, June and August of 2016, and again in September this year.
In EUR/SGD, a rate of 1.6 continues to be a magnet for price. With the exception of a single-day probe above 1.63 in late August, which at the time marked a two-year low in SGD buying power, EUR/SGD has spent all of its time in recent months between 1.593 and 1.62.
Economic data coming from Singapore continues to present mixed signals. In October, Singapore’s Ministry of Trade and Industry released preliminary data showing the economy growing at 4.6% – the country’s highest rate of annual growth since 2014. Offsetting that was September’s plunge in exports. A monthly decline of 11% took annual export growth into negative territory (-1.1%), compared with annualized growth one month earlier of 16.7%. Among eight Asian countries releasing trade data in October, only Singapore posted weak export numbers.
Analysts at Singapore’s largest bank, DBS, said in August that SGD was “too strong” against USD and suggested that further SGD appreciation would be hard to come by.
Sending Money to Singapore
When sending money to Singapore it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or Singapore Dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted SGD amount will be transfered to the recipient account you specify in Singapore.
You can save around 5% and maybe more - end result is more Singapore Dollar deposited into the recipient bank account in Singapore and less margins and fees kept by the banks!Compare Transfer Exchange Rates to Singapore