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Foreign Exchange Guide to Singapore

Latest market mid-rate: 1.0 =

Country Code:
SG
Domestic Currency:
Singapore dollar
Symbol - Code:
$ SGD
Telephone Prefix:
+65

The domestic currency in Singapore is the Singapore dollar with currency code SGD. Read this foreign exchange guide to Singapore and the Singapore dollar with money transfer and travel tips plus Singapore dollar exchange cross rates.

In this guide we review :

  1. Singapore dollar info - general info about the Singapore dollar
  2. Singapore dollar in the markets - recent SGD moves and predictions from the FX markets
  3. Travelling in Singapore - currency & money saving tips
  4. Buying Singapore dollar cash online - travel money for Singapore
  5. Sending money to Singapore - save on Singapore dollar bank transfers to Singapore
  6. Singapore dollar exchange rates - latest & historic exchange rates.

Singapore dollar (SGD) general currency information

According to the Bank for International Settlements, trading in the Singapore dollar contributes to 1.8% of the foreign exchange market’s daily turnover, and as such the currency is Asia’s third most traded (behind the Japanese yen and China’s yuan) and the twelfth most traded in the world.

Singapore’s currency is of special importance to the country’s central bank, the Monetary Authority of Singapore (MAS). Unlike other central banks which tighten or ease monetary policy by adjusting a national interest rate, the MAS achieve the same end via management of Singapore dollar exchange rates – an unconventional method which has served the country well since its introduction in 1981.

Because of its importance to monetary policy, the value of the Singapore dollar is managed carefully under a ‘managed float’ regime and is not truly freely floating. Its value is managed against a basket of currencies from the country’s major trading partners and the trade-weighted Singapore dollar exchange rate is restricted by the central bank to moves within a specified range, the boundaries of which are announced every six months.

The currency’s all-time valuation low against the US dollar occurred in September 1985 when USD/SGD reached 2.31. It's all-time high came in August 2011 when USD/SGD fell to just 1.2.

What is the Singapore dollar currency code and symbol?

The three letter currency code for the Singapore dollar is SGD and the symbol is $.

Which countries use the Singapore dollar?

It is the domestic currency in Singapore.


Singapore dollar (SGD) in the markets

In April, the Monetary Authority of Singapore said for the first time in six years that it would allow the Singapore dollar to appreciate. Unconventionally, the MAS manages monetary policy by managing the value of SGD. By allowing the currency to rise, it will effectively tighten policy in response to robust economic growth – 4.3% in the fourth quarter.

USD/SGD has, for the most part, followed the broader market for dollar pairs in 2018. The pair reached 1.3 in January for the first time since 2014 but since then has rallied. It was back to 1.4 in early May.

In early May, for the first time in nearly two years, the Singapore dollar broke parity with the Australian dollar. When last seen, AUD/SGD was at 0.998.

Based on a global macro model and analyst expectations, the team at TradingEconomics.com is forecasting USD/SGD at 1.37 at the end of April 2019.

The interactive chart below shows the SGD to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


SGD-USD 3 Month chart
SGD-USD 3 Month chart
SGD currency converter

Travel, Currency and Money saving tips for Singapore

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.

Singapore Trip Checklist   

  1. Compare SGD travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Singapore
  3. Lonely Planet - world's best travel guide (coupon and deals)

Travel money for Singapore

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.

Travel Money Exchange Rates Compared

Buying SGD Cash with USD 1,000

Travelex Online logo Travelex Online
1USD=1.211SGD
$1211.00 SGD (11.13%)
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Price Details
Receive: $1211.00 SGD
Exchange Rate: 1.211
(Inverse 1SGD=USD 0.8258)
Fees: USD 0
Total Cost : 11.13% (from mid-rate: 1.3627)
Amount of money that could be received by your currency exchange at rate USD/SGD=1.211 and inclusive of the fee of USD 0.
Rate timestamp : Thu Jun 21 2018 06:00:04 GMT+0000 (UTC)
Bank Rates - Average
1USD=1.1924SGD
$1180.48 SGD (13.37%)
This is the average USD to SGD Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

 
Price Details
Receive: $1180.48 SGD
Exchange Rate: 1.1924
(Inverse 1SGD=USD 0.8386)
Fees: USD 10 (1%)
Total Cost : 13.37% (from mid-rate: 1.3627)
Receive SGD $31 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate USD/SGD=1.1924 and inclusive of the fee of USD 10 (1%).
 

Sending money to Singapore

When searching around for information on how to get a good exchange rate when sending money to Singapore you need to start with finding out the latest Singapore dollar foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).

Getting a better deal when 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 4 simple steps :

  1. Open an account with a BER reviewed FX 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.

Use our Send to SGD calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Singapore dollar deposited into the recipient bank account and less margins and fees kept by the banks!

 
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending USD 10,000 to SGD

OFX logo OFX (prev. USForex)
1USD=1.3506SGD
$13,506 SGD (0.89%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: $13,506 SGD
Exchange Rate: 1.3506
(Inverse 1SGD=USD 0.7404)
Fees: USD 0
Total Cost : 0.89% (from mid-rate: 1.3627)
This is the amount of money that could be received by your transfer at rate USD/SGD=1.3506 and inclusive of the fee of USD 0.
Rate timestamp : Thu Jun 21 2018 06:03:47 GMT+0000 (UTC)
Bank Rates - Average
1USD=1.3102SGD
$13,082 SGD (4%)
This is the average USD to SGD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: $13,082 SGD
Exchange Rate: 1.3102
(Inverse 1SGD=USD 0.7632)
Fees: USD 15
Total Cost : 4% (from mid-rate: 1.3627)
Receive SGD $424 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/SGD=1.3102 and inclusive of the fee of USD 15.
 

Singapore dollar - exchange rates - live and historic

Major SGD cross rates
View Full List (A-Z)
1SGD=

SGD/USD - Singapore dollar to U.S. dollar - 10 Year History

DateExchange RatePeriodChange
20 Jun 20180.7366Latest
13 Jun 20180.74911 Week-1.67%
21 May 20180.74611 Month-1.27%
22 Dec 20170.74406 Months-0.99%
20 Jun 20170.72001 Year+2.31%
20 Jun 20160.74392 Years-0.98%
21 Jun 20130.78425 Years-6.07%
22 Jun 20080.732410 Years+0.57%

SGD/EUR - Singapore dollar to Euro - 10 Year History

DateExchange RatePeriodChange
20 Jun 20180.6355Latest
13 Jun 20180.63471 Week+0.13%
21 May 20180.63281 Month+0.43%
22 Dec 20170.62756 Months+1.27%
20 Jun 20170.64651 Year-1.7%
20 Jun 20160.65732 Years-3.32%
21 Jun 20130.59655 Years+6.54%
22 Jun 20080.469010 Years+35.5%

SGD/GBP - Singapore dollar to British pound sterling - 10 Year History

DateExchange RatePeriodChange
20 Jun 20180.5579Latest
13 Jun 20180.55981 Week-0.34%
21 May 20180.55551 Month+0.43%
22 Dec 20170.55706 Months+0.16%
20 Jun 20170.57001 Year-2.12%
20 Jun 20160.50662 Years+10.13%
21 Jun 20130.50805 Years+9.82%
22 Jun 20080.370510 Years+50.58%

SGD/JPY - Singapore dollar to Japanese yen - 10 Year History

DateExchange RatePeriodChange
20 Jun 201881.1731Latest
13 Jun 201882.58451 Week-1.71%
21 May 201882.81611 Month-1.98%
22 Dec 201784.28176 Months-3.69%
20 Jun 201780.16281 Year+1.26%
20 Jun 201677.33772 Years+4.96%
21 Jun 201376.64605 Years+5.91%
22 Jun 200878.622110 Years+3.24%

SGD/AUD - Singapore dollar to Australian dollar - 10 Year History

DateExchange RatePeriodChange
20 Jun 20180.9974Latest
13 Jun 20180.98971 Week+0.78%
21 May 20180.98411 Month+1.35%
22 Dec 20170.96426 Months+3.44%
20 Jun 20170.95041 Year+4.95%
20 Jun 20160.99762 Years-0.02%
21 Jun 20130.85035 Years+17.3%
22 Jun 20080.767710 Years+29.92%

SGD/CAD - Singapore dollar to Canadian dollar - 10 Year History

DateExchange RatePeriodChange
20 Jun 20180.9794Latest
13 Jun 20180.97201 Week+0.76%
21 May 20180.95331 Month+2.74%
22 Dec 20170.94716 Months+3.41%
20 Jun 20170.95551 Year+2.5%
20 Jun 20160.95352 Years+2.72%
21 Jun 20130.81685 Years+19.91%
22 Jun 20080.744210 Years+31.6%