CAD/SGD update & alerts
1 CAD = 1.0292 SGD
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CAD/SGD Exchange Rates and Providers Compared
This guide to the Canadian Dollar to Singapore Dollar exchange rate with 90-day chart & alerts, historic rates, forecasts and CAD to SGD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our CAD/SGD Quick Calculator.
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for CAD/SGD International Money Transfers. Costs are calculated against the current interbank mid-rate.
| Foreign Transfer Providers | Receive SGD(S$) | Exchange Rate | Fee CAD | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | S$10,199 Best Overall | 1.0199 | 0^ | 0.8% | |
Banks - Average Rate      Average Bank Rate | S$9,783 S$416 less | 0.9865 | 15 | 4.85% |
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
| Travel Money Providers | Amount SGD(S$) | Exchange Rate | Fee CAD | Total Cost | Deal Links |
|---|---|---|---|---|---|
Banks - Average Rate Foreign Currency Average Bank Rate | S$890.60 Compare | 0.8996 | C$10 | 13.37% |
CAD and SGD in the Markets
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 threat of proxy war between the US and Iran in Iraq has pared back some of the gains the Loonie had made coming into the New Year.
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.
The USMCA was signed by the United States, Mexico and Canadian on November 30 at the G20 Summit in Buenos Aires. Any delay to Canadian ratification of the USMCA trade deal would have likely depressed sentiment on Canada’s currency.
For more details read the full article Canadian dollar news and forecasts.
Read more in the article CAD Forecasts.
Singapore Dollar (SGD)
Singapore was added to a US watchlist of suspected currency manipulators in May. Though that means little right now in terms of economic implications, it created some negative sentiment that spurred a rise in USD/SGD to a 6-month high (SGD low) of S$1.384.
Overall, it’s been 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.
In May, SGD was pressured by data showing core inflation at a 1-year low, by an escalation in US-China trade tensions, and after Singapore’s Ministry of Trade and Industry downgraded 2019 growth forecasts. At 1.2 percent, quarterly growth in the Lion City has slowed to its lowest level in a decade.
All said, the Monetary Authority of Singapore will, at best, keep monetary policy unchanged when it next meets in October (there's a chance it could turn dovish).
Read more in the article SGD Forecasts.
Why can't I just get the CAD/SGD market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the CAD / SGD was traded (bought or sold) in the international markets.
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). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
We help you Compare & Save Money on Exchange Rates.
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