Singapore Dollar to South Korean Won - Convert Compare Save
The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as exchange rates are the ratio between two currencies.
So it follows that if you are determining the best time to transact, in this case the SGD vs KRW, you should pay attention to the forecasts and trends for both Singapore Dollar and South Korean Won:
Singapore Dollar (SGD) outlook
A big-picture view shows SGD trading sideways against the pound since late 2016, now at S$1.763. SGD reached a 17-month high against the Malaysian ringgit in April, at RM3.073.
With core inflation at a 9-month low in the lead-up to this report and quarterly economic growth at a 2-year low, it’s likely that the Monetary Authority of Singapore will keep monetary policy unchanged when it next meets in October.
According to TradingEconomics.com, the Singapore dollar is likely to be worth S$1.37 per US dollar in 12 months’ time (April 2020).
The South Korean won has been the worst-performing Asian currency in 2019.
At the time of writing, while most emerging Asian currencies were showing year-to-date gains against the dollar, the won had lost 1.8 percent, with weakness driven by falling exports and an alarming drop in South Korean inflation, which themselves drove expectations for an interest rate cut by the Bank of Korea, even though the BoK said in March that policy easing was not yet warranted.
In early April, at 1134 to the dollar, the won was trading near the weaker boundary of its trading range, which existed between 1110 and 1140 (this having contained most price action in the July-18 to April-19 period).
In April, TradingEconomics.com predicted that USD/KRW would rise to 1164 by April 2020. That's a level last seen in January 2017.
Why can't I just get the SGD/KRW market rate I see online or in the media?
The SGD/KRW mid-rate is the rate you will see quoted online 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 / KRW was traded (bought or sold) in the international markets.
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.
General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer.
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