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Foreign Exchange Guide to Singapore

Read this currency guide to Singapore with money transfer and travel tips.   [USD/SGD=1.3548]

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

This is a foreign exchange guide to Singapore, the Singapore Dollar currency plus SGD transfers and travel tips.


In this Singapore currency guide we take a look at :

  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.
  7. SGD News - the latest Singapore Dollar related articles from our blog.

Singapore Dollar (SGD) general currency information


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.

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.


Singapore Dollar (SGD) in the markets

2019 has begun steadily for the Singapore dollar. In the third week of April, SGD is little changed (<1 percent) on the year against both the US dollar (S$1.356) and Australian dollar (S$0.97), but it continues to impress against the euro, relative to which it has strengthened by 2.5 percent year-to-date to S$1.524—near its strongest level in 2 years. A big-picture view shows SGD trading sideways against the pound since late 2016, now at S$1.763. SGD reached a 17-month high against the Malaysian ringgit in April, at RM3.073.

With core inflation at a 9-month low in the lead-up to this report and quarterly economic growth at a 2-year low, it’s likely that the Monetary Authority of Singapore will keep monetary policy unchanged when it next meets in October.

According to TradingEconomics.com, the Singapore dollar is likely to be worth S$1.37 per US dollar in 12 months’ time (April 2020).

The interactive chart below shows the USD to SGD 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.


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

Travel, Currency and Money saving tips for Singapore

 

Famous for it's cleanliness, diverse culture, fantastic food and stunning architecture, Singapore is becoming an increasingly popular destination.. The concrete jungles that once dominated Singapore’s skyline are slowly giving way to green skyscrapers, which look more like living ecosystems than business hubs. Fervently working towards its ‘City in a Garden’ dream, the nation is ploughing money into becoming more sustainable and, well, green. Head out of town a little and you’ll find plenty of walking trails, treetop jungle bridges, wildlife galore and the city's green jewel, the Unesco World Heritage–listed Singapore Botanic Gardens: these are the lungs of Singapore.

Singapore.

What currency is used in Singapore?

Singapore’s official currency is the Singapore Dollar (SGD), and it is divided into 100 cents. Foreign currencies, travelers’ checks, and personal checks can be changed at most banks and licensed money changers. ATMs can be found all over Singapore, and major credit cards are widely accepted.

How to get around in Singapore?

There are plenty of buses and taxis around Singapore, but the Mass Rapid Transit (MRT) runs the length and breadth of the country. The efficient Mass Rapid Transit (MRT) subway system is the easiest, quickest and most comfortable way to get around Singapore. The system operates from 5.30am to midnight, with trains at peak times running every two to three minutes, and off-peak every five to seven minutes. 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.

Singapore's extensive bus service is clean, efficient and regular, reaching every corner of the island. The two main operators are SBS Transit and SMRT. Both offer similar services. For information and routes, check the websites. Alternatively download the 'SG Buses' smartphone app, which will give you real-time bus arrivals.

"Supertrees" in Gardens by the Bay.

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.

Visit the Southern Islands of Singapore from the Marina South Pier. There are regular bumboat (motorised sampan) services from Changi Point Ferry Terminal to Pulau Ubin (S$3). To get there, take bus 2 from Tanah Merah MRT.

Travel 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. However, the extra fees may be worth it because it’s small enough to explore adequately in a short amount of time, and has modern conveniences and infrastructure right at your fingertips.

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. Singapore‘s tropical climate means it’s like summer all year round, with temperatures ranging from 26–34 degrees Celsius (about 78–93 degrees Fahrenheit) on average. The high humidity also means a lot of perspiration when outdoors, so pick the right clothing to wear or risk looking like a sweaty, frazzled mess throughout your trip. Plan your outdoor activities for cooler mornings, and urban walks at night when the lights come on.

Food in Singapore is taken very seriously. From cheap hawker fare to Michelin-starred fine dining, food-enamoured Singaporeans will line up for it, Instagram the hell out of it and passionately debate whether it is ‘die, die, must try’ – Singlish slang for ‘to die for’. Don’t fret about finding a place to chow down, as each neighbourhood is home to local hawker centres and coffeeshops dishing up some of the island’s best meals for just a couple of bucks.

Located along Marina Bay, Gardens by the Bay is a urban landscaping project is a series of fake “supertrees”. At heights of 80-160 feet, the metal structures have roughly 200 species of orchids, ferns, and other tropical plants coating their structure and forming a lush, colorful skin. It’s free to walk through the outdoor gardens, but you have to pay $8 SGD ($6 USD) for entry if you want to do the OCBC Skyway (the 128-metre long walkway through the canopy of the Supertree Grove).

 

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.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money Providers
Ratings & Reviews
Amount SGD($)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
1,268.2 SGD
Compare
1.268206.39%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
1,256 SGD
12 SGD
1.2682$107.33%Branch-
Wells Fargo Bank logo
1,242.84 SGD
25 SGD
1.2682$208.26%Branch-
 
Travelex Online US logo
1,208.3 SGD
60 SGD
1.20830^10.81%Online order, Branch pickup, Home delivery2-3 days
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→SGD
USD amount:$1,000 USD
Fee:0
Exchange Rate:1.2682 (6.39% from mid-rate)
SGD amount:1,268.2 SGD
Total Cost:6.39%
Time:12:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→SGD
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:1.1854 (12.5% from mid-rate)
SGD amount:1,256 SGD
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→SGD
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:1.2682 (6.39% from mid-rate)
SGD amount:1,242.84 SGD
Total Cost:8.26%
Time:12:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→SGD
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:1.2083 (10.81% from mid-rate)
SGD amount:1,208.3 SGD
Total Cost:10.81%
Time:
Rate Fetched: Sat Apr 20 2019 10:15:03 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
 

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)

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).


Get a better deal for foreign transfers 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 foreign transfer? Request a Multi-Vendor Quote ▾
Foreign Transfer Providers
Ratings & Reviews
Receive SGD($)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
13,321 SGD
Best Overall
1.33210^1.68%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TransferWise logo
13,465 SGD
144 SGD
1.3534$510.61%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
13,043 SGD
278 SGD
1.3067183.73%Online, Branch, Bank Transfers2-3 days
HSBC logo
13,034 SGD
287 SGD
1.3054$153.79%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
12,955 SGD
366 SGD
1.3031154.38%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
12,871 SGD
450 SGD
1.3001$1005%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
12,871 SGD
450 SGD
1.3001$1005%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:1.3321 (1.68% from mid-rate)
SGD amount:13,321 SGD
Total Cost:1.68%
Time:
Rate Fetched: Sat Apr 20 2019 10:02:46 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:1.3534 (0.1% from mid-rate)
SGD amount:13,465 SGD
Total Cost:0.61%
Difference:
144 SGD more than using OFX
Time:12:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:18
Exchange Rate:1.3067 (3.55% from mid-rate)
SGD amount:13,043 SGD
Total Cost:3.73%
Difference:
278 SGD less than using OFX
Time:12:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:1.3054 (3.65% from mid-rate)
SGD amount:13,034 SGD
Total Cost:3.79%
Difference:
287 SGD less than using OFX
Time:12:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:15
Exchange Rate:1.2974 (4.24% from mid-rate)
SGD amount:12,955 SGD
Total Cost:4.38%
Difference:
366 SGD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3001 (4.04% from mid-rate)
SGD amount:12,871 SGD
Total Cost:5%
Difference:
450 SGD less than using OFX
Time:12:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3001 (4.04% from mid-rate)
SGD amount:12,871 SGD
Total Cost:5%
Difference:
450 SGD less than using OFX
Time:12:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
 

SGD/USD - Singapore Dollar to United States Dollar - 10 Year History

DateExchange RatePeriodChange
19 Apr 20190.7378Latest
12 Apr 20190.73921 Week-0.19%
20 Mar 20190.74311 Month-0.71%
21 Oct 20180.72616 Months+1.61%
19 Apr 20180.76241 Year-3.23%
19 Apr 20170.71532 Years+3.15%
20 Apr 20140.79855 Years-7.6%
21 Apr 20090.663910 Years+11.13%

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

DateExchange RatePeriodChange
19 Apr 20190.6561Latest
12 Apr 20190.65361 Week+0.38%
20 Mar 20190.65021 Month+0.91%
21 Oct 20180.63086 Months+4.01%
19 Apr 20180.61761 Year+6.23%
19 Apr 20170.66762 Years-1.72%
20 Apr 20140.57805 Years+13.51%
21 Apr 20090.512910 Years+27.92%

SGD/GBP - Singapore Dollar to British Pound Sterling - 10 Year History

DateExchange RatePeriodChange
19 Apr 20190.5676Latest
12 Apr 20190.56521 Week+0.42%
20 Mar 20190.56271 Month+0.87%
21 Oct 20180.55576 Months+2.14%
19 Apr 20180.54131 Year+4.86%
19 Apr 20170.55962 Years+1.43%
20 Apr 20140.47535 Years+19.42%
21 Apr 20090.453910 Years+25.05%

SGD/JPY - Singapore Dollar to Japanese Yen - 10 Year History

DateExchange RatePeriodChange
19 Apr 201982.5792Latest
12 Apr 201982.80371 Week-0.27%
20 Mar 201982.23641 Month+0.42%
21 Oct 201881.65566 Months+1.13%
19 Apr 201881.91361 Year+0.81%
19 Apr 201777.84792 Years+6.08%
20 Apr 201481.78865 Years+0.97%
21 Apr 200965.357110 Years+26.35%

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

DateExchange RatePeriodChange
19 Apr 20191.0319Latest
12 Apr 20191.03121 Week+0.07%
20 Mar 20191.04171 Month-0.94%
21 Oct 20181.02076 Months+1.1%
19 Apr 20180.98751 Year+4.5%
19 Apr 20170.95432 Years+8.13%
20 Apr 20140.85525 Years+20.66%
21 Apr 20090.940710 Years+9.69%

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

DateExchange RatePeriodChange
19 Apr 20190.9879Latest
12 Apr 20190.98561 Week+0.23%
20 Mar 20190.98761 Month+0.03%
21 Oct 20180.95156 Months+3.83%
19 Apr 20180.96561 Year+2.31%
19 Apr 20170.96442 Years+2.44%
20 Apr 20140.88025 Years+12.24%
21 Apr 20090.822510 Years+20.11%

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