There are three important types of information that you need to know if you are to have any chance of getting the
best possible SGD / AUD rate :
Find the Market SGD to AUD mid-rate - the starting point.
Check your FX provider's transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
The closer your final exchange rate is to the market SGD/AUD midrate the better deal you are getting.
1 Singapore dollar equals Australian dollar
1SGD=AUD
Right now the SGD/AUD market rate is
and represents how many
Australian dollar
you can get for one Singapore dollar.
The SGD/AUD 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. The closer your final exchange rate is to the market SGD/AUD midrate the better deal you are getting. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the currencies were exchanged in a transaction (bought or sold) in the international markets.
Singapore dollar to Australian dollar (SGD-AUD) Recent History
When
Exchange Rate
Date
1 Week ago
0.9803
18 Apr 2018
1 Month ago
0.9857
26 Mar 2018
6 Months ago
0.9543
27 Oct 2017
1 Year ago
0.9516
25 Apr 2017
2 Years ago
0.9586
25 Apr 2016
5 Years ago
0.786
26 Apr 2013
10 Years ago
0.7864
27 Apr 2008
There are three important types of information that you need to know if you are to have any chance of getting the
best possible SGD / AUD rate :
Market SGD to AUD mid-rate - the starting point.
Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
Right now the SGD/AUD market rate is
and represents how many
Australian dollar
you can get for one Singapore dollar.
The SGD/AUD 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 SGD / AUD was traded (bought or sold) in the international markets.
2. Transaction Costs - Margins and Fees for SGD/AUD 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.
SGD to AUD 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 SGD to AUD.
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote
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.
This is the amount of money that could be received by your transfer at rate SGD/AUD=0.9799 and inclusive of the fee of 0. Rate timestamp : Wed Apr 25 2018 14:18:49 GMT+0000 (UTC)
This is the average SGD to AUD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.
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 SGD/AUD market rate I see on Google or in the Media?
When you look up the current Singapore dollar to Australian 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 SGD to AUD 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 the below
SGD to AUD calculator to convert currency amounts using the latest mid-market exchange rates.
Then choose your transaction type for specific Singapore dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Singapore dollar and Australian 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 SGD vs AUD, you should pay attention to both Singapore dollar and Australian dollar news and forecasts.
Singapore dollar (SGD) - Market news and forecasts
In 2018, Singapore developments and economic data have been less of a driver of SGD FX rates, with most simply following the broader market(s).
In January, after breaking significant technical support at 1.335, USD/SGD fell to 1.3 for the first time since 2014. Then, in line with the broader market for dollar pairs, USD/SGD rallied by mid-February into the high 1.31s. 1.335 remains a significant technical level in this pair.
Against a very strong Japanese yen, SGD lost nearly 4% of its value in the first seven weeks of the year; however, this was once again in line with the broad moves in yen pairs. In mid-February, SGD bought roughly 81 yen.
Against the euro, SGD continues to lose value in 2018, as it did in 2017. SGD weakened in early February to 1.645 per euro – its weakest level in two-and-a-half years.
The team at TradingEconomics.com is forecasting SGD weakness ahead. It sees the currency weakening to 1.38 per US dollar before the end of the year.
Australian dollar (AUD) - Market news and forecasts
The Australian dollar took a hit in February and March, during which it gave up 4% of its value against the US dollar, and it continues to struggle in April.
In the third week of April, a rather dovish set of RBA meeting minutes eliminated gains made during a modest recovery period earlier in the month and the Aussie was once again in the mid-0.76s versus USD – it had been as high as 0.813 in January – and was close to long-term lows against the euro, in the low 0.62s.
Over the medium term, the Australian dollar is likely to receive support from commodities, which will continue to rally according to a PIMCO analyst. Speaking in April, the analyst said that commodities “would shine” given the transition to an environment in which low and stable inflation is preferable.
Any support lent by commodities will, however, be offset by a central bank that sees little reason for a near-term increase in interest rates and by uncertainties surrounding a potential US-China trade war. Trade tensions were at least eased when at the Boao Forum in April, Chinese President Xi Jinping spoke of the need to ease tariffs and further open up China’s economy.
In March, the median estimate of analysts polled by Reuters had AUD/USD at 0.78 at year-end.
Emirates NBD