What's in this CAD to SGD exchange rate review?
To calculate other CAD/SGD amounts try our home-page Convert CAD to SGD quick converter.
Comparing Retail Exchange Rates
The total cost for 'Retail' exchange rates you receive from your bank or foreign exchange provider consists of the margin from the 'Wholesale' rate (interbank mid-rate) plus any fixed or percentage fees.
These margins and fees can vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions. Also the exchange rate margin will also vary depending on the currency pair and total amount.
Country Guides - Singapore Dollar
 Singapore (SGD) |
Canadian Dollar - Singapore Dollar Forecasting
When determining the best time to make a foreign exchange transaction, in this case the CAD vs SGD, you should pay attention to the recent market trends for both currencies.
Canadian Dollar (CAD)
The combination of an eroded US interest yield advantage, a broadly positive riskon mood and renewed euro demand, could be a catalyst to push the Canadian dollar along. The combination of an eroded US interest yield advantage, a broadly positive riskon mood and renewed euro demand, could be a catalyst to push the Canadian dollar along.
The Canadian dollar was range bound during the second half of 2019 oscillating between US75c and US76.5c. Mid-year the loonie stormed ahead in June and July, rising to what turned out to be the 2019 high against the US dollar of US76.7cents and to 8-month highs against the euro, pound, Australian and New Zealand dollars. Against the Aussie, a minimal additional increase would take CAD to a 9-year high.
Supporting the loonie was a 10 percent rise in the oil price (oil is among Canada’s most exported products but is volatile and can’t be relied upon), a large and welcome jump in inflation, and dovishness at major central banks of the world, including the Federal Reserve, ECB and RBA.
Read more in the article CAD Forecasts.
Singapore Dollar (SGD)
At the end of March, Singapore's central bank eased its monetary policy, as widely expected, with the city-state's bellwether economy bracing for a deep recession due to the coronavirus pandemic.
The MAS said it would adopt a zero percent per annum rate of appreciation of the policy band starting at the prevailing level, currently slightly below the mid-point of the policy band.
The markets viewed this annoucement as showing the MAS has kept some fire-power in reserve and could intervene again to lower the SGD.
NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.
Overall, it was a mixed 2019 for the Singapore dollar, with small gains (<2 percent) against the euro and Australian dollar, but small losses against the US dollar and pound.
Read more in the article SGD Forecasts.
How to get Best CAD to SGD Exchange Rates
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).
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 foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
What is a good CAD to SGD exchange rate?
This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the Canadian Dollar vs Singapore Dollar current value is to look the CAD/SGD historic rate and change over a range of periods.
The following table looks at the change in the CAD to SGD exchange rate over periods from the previous week back to the last 10 years.
| CAD/SGD rate | Change | Period |
|---|---|---|
| 03 Aug 2020 : 1.0274 | 0.1% ▲ | 1 Week |
| 11 Jul 2020 : 1.0237 | 0.4% ▲ | 30 Days |
| 12 May 2020 : 1.0077 | 2% ▲ | 90 Days |
| 11 Aug 2019 : 1.0497 | 2% ▼ | 1 Year |
| 12 Aug 2015 : 1.0764 | 4.5% ▼ | 5 Years |
| 13 Aug 2010 : 1.3088 | 21.4% ▼ | 10 Years |
When is the best time to exchange CAD to SGD?
Getting a good market rate is all about timing to help with this you can use BER Smart Alerts to make the most of currency movements.
Rather than requiring you to set a target rate, our rate alerts work differently. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.