Loading...

Home pages - full list (A-Z)

SGD/BTC - Convert Compare Save

Singapore Dollar to Bitcoin exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

SGD to BTC interbank exchange rate = 7.0E-5

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   
   

SGD and BTC in the Markets

When determining the best time to make a foreign exchange transaction, in this case the SGD vs BTC, you should pay attention to the recent market trends for both currencies.

 

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.

 

Bitcoin (BTC)

Sentiment towards cryptocurrencies has really picked up in 2019 and bitcoin is thriving. Rates just shy of $11,000 on June-22 (the day of this report) marked a spectacular recovery from rates closer to $3,000 earlier this year. Between mid-February and June-21, bitcoin gained value in 15 weeks from 18.

Cryptocurrency experts suggested in June that the imminent arrival of Facebook’s own coin, Libra, added legitimacy to the crypto space, thereby assisting widespread acceptance and adoption of cryptos as payment vehicles and boosting market sentiment.

Rather than disappear, as some prominent financial experts had predicted, Libra’s arrival confirmed that “[bitcoin] will remain an ever-important asset that hundreds of millions of people will hold,” one analyst said, before adding: “You can bet bitcoin is going to break 15k!”

Why can't I just get the SGD/BTC 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 SGD / BTC 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.

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.

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.

 

View all SGD Exchange Rates