The Citibank SGD to TWD rate is 23.27. This is -6.1% below the mid-rate. Compare Citibank currency conversion rates - Reduce FX costs.
The Citibank SGD to TWD exchange rate is 23.27. This is -6.1% compared to the latest SGD-TWD mid-market rate 24.77.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Singapore dollar (SGD) to New Taiwan dollar (TWD) rates from different sources before making a conversion.
Looking at our comparison table the best SGD to TWD exchange rate is 24.62 from Wise, -0.61% from the mid-market rate 24.77. The next best rate is 24.52 from WorldRemit, -1% from the mid-rate. Then OFX with 23.6134 is -4.7% from the mid-rate.
Among the banks, the CIMB Bank rate is 23.14 at -6.6%, the OCBC Bank rate is 24.1 at -2.7%, and the Maybank rate is 23.9 at -3.5% compared to the mid-rate 24.77.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Citibank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
The Citibank Singapore dollar to New Taiwan dollar comparison table above makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Citibank and other foreign exchange providers against the latest SGD-TWD mid-rate (see Market Data below ) and the possible savings of using various providers.
Citibank's exchange rates for wire transfers are generally competitive and transparent, which makes it a good choice for customers who need to send or receive money internationally. However, it's always a good idea to compare rates and fees across different banks and financial institutions to ensure you're getting the best deal possible.
FX Order Watch: Citibank's FX Order Watch allows customers to set their own exchange rates and automatically execute foreign exchange transactions when the desired exchange rate is reached.
When you get a quote for your Citibank Wire Transfer from their website or in-app, you will see the Citibank exchange rate, but it can be difficult to then calculate how much mark-up you are being charged.
While all banks charge this mark-up, the extra amount being charged is much higher than it would be with a global money transfer specialist.
Sending or receiving international transfers to or from your Citibank bank account will include a margin rate of between 3.5% to 8% – this is much higher than most money transfer broker rates (which are normally 0.5 to 1.5%).
Singapore dollar (SGD) to New Taiwan dollar (TWD) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | SGD/TWD | Change | Period |
|---|---|---|---|
07 Jul 2023 | 23.17 | 1.6% ▲ | 2 Week |
22 Apr 2023 | 22.95 | 2.6% ▲ | 3 Month |
21 Jul 2022 | 21.51 | 9.5% ▲ | 1 Year |
22 Jul 2018 | 22.47 | 4.8% ▲ | 5 Year |
23 Jul 2013 | 23.65 | 0.4% ▼ | 10 Year |
26 Jul 2003 | 19.80 | 18.9% ▲ | 20 Year |
Here are some popular conversion amounts for SGD to TWD (Singapore dollar to New Taiwan dollar)*.
| SGD | TWD |
|---|---|
| S$ 1,000 | NT$ 24,770 |
| S$ 5,000 | NT$ 123,850 |
| S$ 20,000 | NT$ 495,400 |
| S$ 100,000 | NT$ 2,477,000 |
| SGD | TWD |
|---|---|
| S$ 40.37 | NT$ 1,000 |
| S$ 201.86 | NT$ 5,000 |
| S$ 807.42 | NT$ 20,000 |
| S$ 4,037 | NT$ 100,000 |
More amounts
*Converted at the current SGDTWD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Recent forecasts regarding the SGD to TWD exchange rate indicate heightened uncertainty influenced by global trade tensions and geopolitical risks. Analysts note that U.S. President Donald Trump's announcement of a 10% tariff on imports from Singapore has exacerbated the negative sentiment surrounding emerging Asian currencies. This development fits into a broader pattern, as trade war concerns have caused significant declines in regional currencies, including the Thai baht and the South Korean won, which have both seen declines of around 2% in recent trading sessions.
Read our full review of recent SGD to TWD forecasts.
There are several ways to save on exchange rates when converting Singapore dollar to New Taiwan dollar:
Generally speaking, if you are buying New Taiwan dollar with Singapore dollar, then it's better for the SGD/TWD exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
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.
Read our Currency guide to Taiwan — a practical currency and money guide to travel in Taiwan plus living and doing business with the New Taiwan dollar.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add SGD/TWD to your personalised Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
| Singapore (SGD) | Taiwan (TWD) |
There are no special limits on foreigners, except for Chinese, buying property in Taiwan.
Foreigners and foreign companies who purchased property after the beginning of 2016 will have to pay extra taxes on any profit when they sell. This tax will vary depending on the length of ownership.
Read more at our Taiwan (TWD) country guide
The MYR to TWD exchange rate has recently been influenced by a series of geopolitical and economic factors.
The Canadian dollar (CAD), known as the “loonie,” has seen recent pressure due to declining oil prices, which consistently influence its value as a commodity-linked currency.
Further reading on the New Taiwan dollar (TWD) - Guides, Reviews & News from our research team.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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