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SGD/IDR - Convert Compare Save

Singapore Dollar to Indonesian Rupiah 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 Indonesian Rupiah exchange rate, has news, forecasts and SGD to IDR 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/IDR 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/IDR International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive IDR(Rp)Exchange RateFee SGDTotal CostDeal Links
OFX logo
98,375,800 IDR9837.580 for BER users (normally $15)3.93%
DBS Bank logo
97,264,408 IDR9743.98185.02%
Banks - Average Rate
DBS Bank logo
97,264,408 IDR9743.98185.02%
 
OFX: Foreign Transfer SGD→IDR
SGD amount:$10,000 SGD
Fee:0 for BER users (normally $15)
Exchange Rate:9837.58 (3.93% from mid-rate)
IDR amount:98,375,800 IDR
Total Cost:3.93%
Time:
Rate Fetched: Wed Jul 24 2019 00:14:54 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→IDR
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:9743.98 (4.85% from mid-rate)
IDR amount:97,264,408 IDR
Total Cost:5.02%
Difference:
1,111,392 IDR less than using OFX
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer SGD→IDR
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:9665.16 (5.62% from mid-rate)
IDR amount:97,264,408 IDR
Total Cost:5.02%
Difference:
1,111,392 IDR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
Snapshot 07/24/2019 - See full table

SGD to IDR interbank exchange rate = 10262.5357

 
 

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/IDR exchange rates

Foreign Transfers

Foreign Transfers Travel Money

   

SGD and IDR in the Markets

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

 

Indonesian Rupiah (IDR)

The rupiah slipped in mid-May to 4-month lows against the US dollar (Rp.14,450) and yen (Rp.132), though it was steady against the Australian dollar (Rp.9,960). This pattern shows how much of the rupiah’s recent movements have been driven by risk sentiment. The rupiah remains historically weak, given its proximity to October’s 20-year low of Rp.15,265 per USD.

Weighing on investor sentiment this year has been the significant escalation in US-China trade tensions. Washington and Beijing both stepped up measures against one another.

For the rupiah, not helping matters in May was news of Indonesia’s worst monthly trade deficit in 6 years, at US$2.5 billion.

With exports struggling, Indonesia’s central bank is under pressure to lower interest rates from 6 percent, but having already pledged to support the rupiah, these rate cuts are unlikely to come, for now.

Capital Economics said in May that the rupiah would be “vulnerable to sudden falls during periods of weak risk appetite.”

DBS warned of “dire consequences” for emerging market currencies like the rupiah if no trade agreement is struck between the US and China.

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