BER Currency News

BER Home/s

  1. Guides
  2. Countries (A-Z)
  3. Singapore - Travel & Foreign Exchange Guide

Foreign Exchange Guide to Singapore

Country Code:
SG
Domestic Currency:
Singapore Dollar
Currency Code:
$ SGD
Telephone Prefix:
+65

In this guide we review :

  1. Travelling in Singapore - Practical tips
  2. Buying Singapore Dollar Cash Online - Travel money for Singapore
  3. Singapore Dollar (SGD) - Currency Market News
  4. Sending Money to Singapore - Save on Singapore Dollar bank transfers
  5. 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   

  1. Compare SGD Travel Cash Rates - probably why you are here!
  2. Hotel Deals - Save on your accomodation in Singapore
  3. Travel Insurance - for those unexpected travel adventures...
  4. 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 :

  1. Open an account with a provider (id docs may be required)
  2. You specify the local or Singapore Dollar amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. 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


Singapore Dollar - Latest Rate Info

Popular Singapore Dollar Cross Rates
View Full List (A-Z)
1SGD=

BER logo Best Exchange Rates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers


Level 2, AMP Tower, 50 Bridge Street, Sydney, NSW 2000, Australia

Disclaimer | Copyright | Privacy Statement


DISCLAIMER

Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website. Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service



COPYRIGHT

This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.