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SGD/CNY - Convert Compare Save

Singapore Dollar to Chinese Yuan 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.

 

This resource page for the Singapore Dollar to Chinese Yuan exchange rate, has news, forecasts and SGD to CNY comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

SGD/CNY Exchange Rates - How to Compare & Save

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 SGD/CNY International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive CNY(¥)Exchange RateFee SGDTotal CostDeal Links
OCBC Bank International Money Transfers
OCBC Bank logo
49,002 CNY4.9497S$1003.67%
OFX logo
48,765 CNY4.87650 for BER users (normally $15)4.14%
DBS Bank logo
48,214 CNY4.8301185.22%
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo OCBC Bank logo
48,068 CNY4.8246185.51%
HSBC logo
47,740 CNY4.7812S$156.15%
Citibank International Money Transfers
Citibank logo
47,316 CNY4.7373126.99%
 

OCBC Bank logoOCBC Bank

OCBC Bank: Foreign Transfer SGD→CNY
SGD amount:$10,000 SGD
Fee:S$100 SGD (1%)
Exchange Rate:4.9497 (2.7% from mid-rate)
CNY amount:49,002 CNY
Total Cost:3.67%
Time:1:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
OFX: Foreign Transfer SGD→CNY
SGD amount:$10,000 SGD
Fee:0 for BER users (normally $15)
Exchange Rate:4.8765 (4.14% from mid-rate)
CNY amount:48,765 CNY
Total Cost:4.14%
Difference:
237 CNY less than using OCBC Bank
Time:
Rate Fetched: Fri Aug 16 2019 23:14:38 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

DBS Bank logoDBS Bank

DBS Bank: Foreign Transfer SGD→CNY
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:4.8301 (5.05% from mid-rate)
CNY amount:48,214 CNY
Total Cost:5.22%
Difference:
788 CNY less than using OCBC Bank
Time:1:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer SGD→CNY
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:4.7910 (5.82% from mid-rate)
CNY amount:48,068 CNY
Total Cost:5.51%
Difference:
934 CNY less than using OCBC Bank
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer SGD→CNY
SGD amount:$10,000 SGD
Fee:S$15 SGD (.15%)
Exchange Rate:4.7812 (6.01% from mid-rate)
CNY amount:47,740 CNY
Total Cost:6.15%
Difference:
1,262 CNY less than using OCBC Bank
Time:1:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer SGD→CNY
SGD amount:$10,000 SGD
Fee:12
Exchange Rate:4.7373 (6.87% from mid-rate)
CNY amount:47,316 CNY
Total Cost:6.99%
Difference:
1,686 CNY less than using OCBC Bank
Time:1:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 08/17/2019 - See full table

SGD to CNY interbank exchange rate = 5.087

 
 

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.

 
   

Compare savings on SGD/CNY exchange rates

Foreign Transfers

Foreign Transfers Travel Money

   

SGD and CNY in the Markets

When determining the best time to make a foreign exchange transaction, in this case the SGD vs CNY, 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.

 

Chinese Yuan (CNY)

In early August the offshore yuan surged to a decade high of 7.05 per US dollar, breaking the symbolic and closely watched USD/CNY = 7.0 exchange rate, after the trade war flared up again and the US labelled China a "currency manipulator".

Increasingly, the yuan is being used as a barometer for progress made on US-China trade talks.

Trade tensions have ramped up again since May when President Trump announced higher tariffs on Chinese goods, after China retaliated with tariffs of its own, and then after Trump placed Huawei on the "entity list," thereby making it impossible for the tech giant to do business with US firms.

Why can't I just get the SGD/CNY 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 / CNY 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