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Foreign Exchange Guide to Singapore

Read this currency guide to Singapore with money transfer and travel tips.   [USD/SGD=1.3558]

 
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

4-Jan-2019: 2018 was a steady year for the Singapore dollar. It lost out marginally against the US dollar (S$1.363) with a decline of 2 percent, but that was offset by a gain of nearly 3 percent against the euro (S$1.563). The Singapore dollar was especially strong last year against the Australian dollar, relative to which it climbed 8.5 percent to a 10-year high (AUD/SGD low) of S$0.961.

With Singapore being a small, trade-dependent country, prime risks to the SGD for 2019 will include a re-emergence of trade tensions between China and the US, and/or a global economic slowdown — the latter was a real possibility at the time of writing if economic data, higher interest rates, tumbling stock prices and earnings warnings from the world’s largest companies were anything to go by.

SGD will dip slightly in early 2019, an analyst at Singaporean bank OCBC said in January, before the “confluence of an uncertain Fed and a stabilization in China allows for a more sustained uptrend.” Don’t expect too much in the way of appreciation, though. The analyst argued for a floor under USD/SGD at S$1.30, indicative of potential SGD strength worth 5 percent from January’s opening rate.

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.

 
Travel Money Providers
Ratings & Reviews
Amount SGD($)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
Wells Fargo Bank logo
1,269.79 SGD
Compare
1.2957$206.38%Branch-
U.S. Bank Foreign Currency
U.S. Bank logo
1,269.6 SGD
$0.19 less
1.269606.39%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
1,270 SGD
$0.21 more
1.2827$106.39%Branch-
 
Travelex Online US logo
1,238 SGD
$32 less
1.2380^8.72%Online order, Branch pickup, Home delivery2-3 days
Wells Fargo Bank: Travel Money USD→SGD
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:1.2957 (4.47% from mid-rate)
SGD amount:1,269.79 SGD
Total Cost:6.38%
Time:0:08 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
U.S. Bank: Travel Money USD→SGD
USD amount:$1,000 USD
Fee:0
Exchange Rate:1.2696 (6.39% from mid-rate)
SGD amount:1,269.6 SGD
Total Cost:6.39%
Time:0:08 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo

Travel Money USD→SGD
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:1.1868 (12.5% from mid-rate)
SGD amount:1,270 SGD
Total Cost:6.39%
Currency Services:Branch
Delivery/Collect:-
Travelex Online US: Travel Money USD→SGD
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:1.238 (8.72% from mid-rate)
SGD amount:1,238 SGD
Total Cost:8.72%
Time:
Rate Fetched: Sun Feb 17 2019 22:15:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated in the US as licensed money transmitters. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.
Rate snapshot: 02/18/2019
 

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!

 
Foreign Transfer Providers
Ratings & Reviews
Receive SGD($)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
13,392 SGD
Best Overall
1.33920^1.27%Bank Transfers - Online & Phone1-2 days
 
TransferWise logo
13,427 SGD
$35 more
1.3496$511.01%Bank Transfers - Online1-2 days
Wells Fargo Bank logo
13,113 SGD
$279 less
1.3137183.32%Online, Branch, Bank Transfers2-3 days
HSBC logo
13,103 SGD
$289 less
1.3123$153.4%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
13,024 SGD
$368 less
1.3100153.98%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
12,939 SGD
$453 less
1.307$1004.61%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
12,939 SGD
$453 less
1.307$1004.61%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:1.3392 (1.27% from mid-rate)
SGD amount:13,392 SGD
Total Cost:1.27%
Time:
Rate Fetched: Sun Feb 17 2019 22:02:46 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:1.3496 (0.5% from mid-rate)
SGD amount:13,427 SGD
Total Cost:1.01%
Difference:
$35 more than using OFX
Time:0:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online
Rating:
 
: 4.6/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:18
Exchange Rate:1.3137 (3.15% from mid-rate)
SGD amount:13,113 SGD
Total Cost:3.32%
Difference:
$279 less than using OFX
Time:0:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:1.3123 (3.25% from mid-rate)
SGD amount:13,103 SGD
Total Cost:3.4%
Difference:
$289 less than using OFX
Time:0:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:15
Exchange Rate:1.3043 (3.84% from mid-rate)
SGD amount:13,024 SGD
Total Cost:3.98%
Difference:
$368 less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3070 (3.64% from mid-rate)
SGD amount:12,939 SGD
Total Cost:4.61%
Difference:
$453 less than using OFX
Time:0:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→SGD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3070 (3.64% from mid-rate)
SGD amount:12,939 SGD
Total Cost:4.61%
Difference:
$453 less than using OFX
Time:0:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated in the US as licensed money transmitters. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.
Rate snapshot: 02/18/2019
 

Popular SGD cross rates


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

DateExchange RatePeriodChange
17 Feb 20190.7370Latest
10 Feb 20190.73761 Week-0.08%
18 Jan 20190.73601 Month+0.14%
21 Aug 20180.73246 Months+0.63%
17 Feb 20180.76221 Year-3.31%
17 Feb 20170.70492 Years+4.55%
18 Feb 20140.79295 Years-7.05%
19 Feb 20090.655210 Years+12.48%

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

DateExchange RatePeriodChange
17 Feb 20190.6524Latest
10 Feb 20190.65131 Week+0.17%
18 Jan 20190.64751 Month+0.76%
21 Aug 20180.63276 Months+3.11%
17 Feb 20180.61431 Year+6.2%
17 Feb 20170.66412 Years-1.76%
18 Feb 20140.57635 Years+13.2%
19 Feb 20090.516510 Years+26.31%

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

DateExchange RatePeriodChange
17 Feb 20190.5716Latest
10 Feb 20190.57021 Week+0.25%
18 Jan 20190.57161 Month0%
21 Aug 20180.56756 Months+0.72%
17 Feb 20180.54331 Year+5.21%
17 Feb 20170.56802 Years+0.63%
18 Feb 20140.47545 Years+20.24%
19 Feb 20090.456910 Years+25.1%

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

DateExchange RatePeriodChange
17 Feb 201981.4380Latest
10 Feb 201980.99631 Week+0.55%
18 Jan 201980.79411 Month+0.8%
21 Aug 201880.64936 Months+0.98%
17 Feb 201881.03271 Year+0.5%
17 Feb 201779.55032 Years+2.37%
18 Feb 201481.09795 Years+0.42%
19 Feb 200961.623410 Years+32.15%

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

DateExchange RatePeriodChange
17 Feb 20191.0321Latest
10 Feb 20191.03861 Week-0.63%
18 Jan 20191.02681 Month+0.52%
21 Aug 20180.99496 Months+3.74%
17 Feb 20180.96411 Year+7.05%
17 Feb 20170.91932 Years+12.27%
18 Feb 20140.87895 Years+17.43%
19 Feb 20091.013610 Years+1.83%

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

DateExchange RatePeriodChange
17 Feb 20190.9761Latest
10 Feb 20190.97931 Week-0.33%
18 Jan 20190.97601 Month+0.01%
21 Aug 20180.95476 Months+2.24%
17 Feb 20180.95721 Year+1.97%
17 Feb 20170.92302 Years+5.75%
18 Feb 20140.86865 Years+12.38%
19 Feb 20090.821610 Years+18.8%

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