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Best SGD to INR Exchange Rate

There are two main numbers that you need to understand if you are to have any chance of getting the best possible SGD to INR rate, these are the foreign exchange market rate and the transaction margin you will be charged by your bank or foreign exchange provider.

1 Singapore Dollar equals
Indian Rupee 1=

Right now the SGD to INR rate is but will most likely be quite different by the time you make you currency exchange. You can calculate with the current mid-rate using our SGD to INR calculator below.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time comparison calculators make shopping around easy and help you calculate how much you can save.

Why can't I just get the same SGD/INR market rate I see on Google or in the Media?

When you look up the current Singapore Dollar to Indian Rupee exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is is commonly referred to as the mid-market rate.

SGD to INR mid-rate on google

SGD to INR mid-rate on google search

Getting a great mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This mid-market rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is!

You can use the below SGD to INR converter to calculate currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific Singapore Dollar cross rates and reviews of leading foreign exchange providers versus the Banks.

SGD to INR calculator

1 SGD equals

Loading SGD/INR Chart

Singapore Dollar - Recent Performance

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.

Indian Rupee - Recent Performance

The rupee had a difficult September, ending the month at 65.44 per dollar, which meant that it had given back 40% of the 2017 gains it once held over USD (the rupee had been as strong as 63.53 per dollar on August 3rd).

The rupee had been one of the stars of the early part of the year, strengthening 6% against the dollar between January and April. However, between May and August, seasonal factors and a drop in market volatility meant that USD/INR spent much of the June-August period drifting sideways along the 64.0 handle.

While we could blame Donald Trump for the rupee’s September nosedive (Trump reignited the US reflation trade with September’s proposed corporate tax cuts) the reality is that the rupee remains weak by recent standards against many of the majors, especially the Canadian dollar, euro and British pound.

In September, AUD/INR once again tested 52.0, and once again was repelled. This resistance level is one of the strongest in FX and a break above it could see the rupee enter a long-term decline against the Australian dollar.

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