There are three simple steps you need to take in order to get a good JPY-SGD exchange rate:
Know the latest JPY to SGD market mid-rate shown above - this is your starting point!
Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Japanese yen to Singapore dollar (JPY-SGD) - 10 Year History
10 Jun 2018
18 May 2018
19 Dec 2017
17 Jun 2017
17 Jun 2016
18 Jun 2013
19 Jun 2008
The JPY/SGD mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the JPY / SGD was traded (bought or sold) in the international markets.
The closer your final exchange rate is to the market / midrate the better deal you are getting.
2. Transaction Costs - Margins and Fees for JPY/SGD Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
JPY to SGD Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from JPY to SGD.
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.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Getting a good market rate is mainly about timing however 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.
Why can't I just get the same JPY/SGD market rate I see on Google or in the Media?
When you look up the current Japanese yen to Singapore dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great JPY to SGD mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our JPY to SGD currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates.
Then choose your transaction type for specific Japanese yen cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Japanese yen and Singapore dollar
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the JPY vs SGD, you should pay attention to both Japanese yen and Singapore dollar news and forecasts.
Japanese yen (JPY) - Market news and forecasts
A loss in April of nearly 3 percent relative to the dollar marked the yen’s worst monthly performance since November 2016. But even with that said, approaching the end of May, the yen was the best performing G10 currency of the year. USD/JPY traded in the mid-109s and EUR/JPY in the mid-127s.
Factors affecting the yen’s value in May included political instability in Europe (supportive of the yen), the recoupling of the dollar with US interest rate expectations (negative for the yen versus the dollar), and the announcement by Washington that it would be scrutinizing automobile imports, which is to say the return of global trade tensions (supportive of the yen).
The medium-term outlook for the yen is good, says Citibank, based on the potential in Japan for normalization of monetary policy. Citibank is forecasting a USD/JPY rate of 105 within 6-12 months.
Singapore dollar (SGD) - Market news and forecasts
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.
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