Read our review of DBS foreign exchange services and how their exchange rates compare to FX specialist providers, compare rates and check if you can save money when you send and spend abroad.
Before we proceed to learn more about the services and exchange rate calculation, let’s take a quick look at the bank’s history. DBS is Southeast Asia’s largest bank and operates in 18 countries across the world. Subsequently, the bank provides both domestic and institutional banking activities like corporate finance, trade finance, cash management and treasury solutions, among others.
DBS Bank aims to facilitate better business and investment flows within Asia and between important trading markets such as Australia, Europe and the Americas.
Currency exchange is a complex subject for most people. For the majority of them, it is not something they need to track on a daily basis. However, when someone plans to travel abroad or send/receive cash from overseas, one needs to have some awareness of exchange rates and its calculation. In this article we look in-depth at DBS exchange rates in particular.
DBS offers a wide range of services to their customers and their foreign exchange services are excellent. The bank offers various foreign exchange services to cater to the varying needs of its customer. Travel cards, foreign cash, ITT (Inward Telegraphic Transfer) are some of the main products offered by DBS.
This article aims to help you:
This table shows DBS Bank Singapore exchange rates for foreign transfers. The percentages show the margins the bank is charging compared to the market mid-rates. The table is updated hourly, for the latest comparison goto our calculator for DBS Bank Singapore Foreign Transfers
|DBS Bank , 1SGD=||Foreign Transfers|
|AED - UAE dirham||2.686 (1.38%)|
|AUD - Australian dollar||0.9759 (1.19%)|
|BHD - Bahraini dinar||0.2744 (1.86%)|
|BND - Brunei dollar||1 (0.03%)|
|CAD - Canadian dollar||0.9083 (0.89%)|
|CHF - Swiss franc||0.6736 (1.05%)|
|CNY - Chinese yuan||4.7237 (0.33%)|
|DKK - Danish krone||4.6838 (1.51%)|
|EUR - Euro||0.633 (0.96%)|
|GBP - British pound||0.5352 (0.84%)|
|HKD - Hong Kong dollar||5.7013 (1.14%)|
|HUF - Hungarian forint||228.78 (1.48%)|
|IDR - Indonesian rupiah||10309.28 (2.25%)|
|INR - Indian rupee||55.04 (1.07%)|
|JPY - Japanese yen||83.37 (1.19%)|
|KRW - South Korean won||856.9 (1.45%)|
|KWD - Kuwaiti dinar||0.2182 (2.47%)|
|LKR - Sri Lankan rupee||146.97 (1.62%)|
|MUR - Mauritian rupee||30.97 (4%)|
|MYR - Malaysian ringgit||3.0358 (1.35%)|
|NOK - Norwegian krone||6.1538 (1.51%)|
|NZD - New Zealand dollar||1.0211 (1.3%)|
|PHP - Philippine peso||37.2 (1.08%)|
|PLN - Polish zloty||2.8893 (2.26%)|
|QAR - Qatari rial||2.6483 (1.92%)|
|SAR - Saudi riyal||2.7454 (1.3%)|
|SEK - Swedish krona||6.2775 (1.42%)|
|THB - Thai baht||24.28 (1.65%)|
|TWD - New Taiwan dollar||20.3 (1.63%)|
|USD - US dollar||0.736 (0.72%)|
|VND - Vietnamese Dong||16393.44 (2.87%)|
|ZAR - South African rand||11.03 (1.27%)|
Thu Oct 28, 2021 8:05 +08
Use the live foreign transfer exchange comparison tables below to compare DBS exchange rates in Hong Kong and Singapore to the leading FX specialists. The table uses the scenario of a user wanting to send $SGD 10,000 abroad, note the margin refers to the difference to the current mid-rate. You can change the currencies and send or receive amount with our full DBS foreign transfers calculator.
If you bank with DBS in Hong Kong you can use our calculator to compare the DBS Hong Kong (HKD) exchange rates.
This table shows DBS Bank Hong Kong exchange rates (HKD) for foreign transfers. The percentages show the margins the bank is charging compared to the market mid-rates. The table is updated hourly, for the latest comparison goto our calculator for DBS Bank Hong Kong Foreign Transfers
|DBS Bank , 1HKD=||Foreign Transfers|
|AED - UAE dirham||0.4646 (1.64%)|
|AUD - Australian dollar||0.1702 (0.65%)|
|CAD - Canadian dollar||0.158 (0.57%)|
|CHF - Swiss franc||0.1173 (0.6%)|
|CNY - Chinese yuan||0.817 (0.59%)|
|DKK - Danish krone||0.8145 (1.23%)|
|EUR - Euro||0.1101 (0.64%)|
|GBP - British pound||0.093094 (0.54%)|
|JPY - Japanese yen||14.55 (0.55%)|
|NOK - Norwegian krone||1.0676 (1.48%)|
|NZD - New Zealand dollar||0.1781 (0.73%)|
|PHP - Philippine peso||6.3052 (3.43%)|
|SEK - Swedish krona||1.0881 (1.47%)|
|SGD - Singapore dollar||0.1727 (0.41%)|
|THB - Thai baht||4.2052 (1.76%)|
|USD - US dollar||0.1281 (0.39%)|
|ZAR - South African rand||1.912 (1.29%)|
Thu Oct 28, 2021 8:05 HKT
The exchange rates are determined by three factors. They are:
Let’s now examine these in detail:
The exchange rate largely depends on the currency you wish to buy or sell. For instance, to send money to the UK, you’ll need to buy GBP and to send money to the US, you must buy USD. Once you know which currency you need, all you have to do is to check the rates of that currency against the SGD.
You can check the DBS foreign exchange rates online anytime of the day.
Once the currency requirement is identified, the next step is to decide what you want to do with it. Are you looking to buy some or sell some?
The rates differ slightly depending on the transaction type and across the currencies. It means that if you are buying USD, the rates will be different from what you’ll get if you are selling it.
Another factor, which determines the exchange rate, is the type of product you wish to buy. The rates differ accordingly. While carrying cash could be the cheapest option, it is risky as well. Travel cards might be hassle-free but are costlier. Likewise, it is not practical to go for online transfers for each and everything. So, the best solution is to go for a combination of all.
The turnaround time for international transfers depends on the country to which transfer is made. In most cases, the beneficiary will receive the fund anytime between one and three business days.
DBS foreign exchange services have been highly rated by the customers. They feel the competitive exchange rates across the major currencies gave them an edge over others. The ease of doing online transfers and the prompt services offered by the bank has been a highlight of the reviews from customers. Most customers agreed that the DBS customer service is exceptionally professional and efficient.
For more information on DBS exchange rates and international money transfers, click here.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.