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Best Exchange Rates Singapore

Compare & Save on Singapore Dollar (SGD) Exchange Rates from leading foreign exchange providers in Singapore

 

Save Money on Exchange Rates when you Send Money Abroad.

 

View all SGD Exchange Rates

 

We compare and review only trusted regulated FX brands

  • Transferwise
  • OFX
  • World First
  • Instarem
  • World Remit

Compare the actual market exchange rates

SGD to USD International Money Transfers

  

Foreign Transfer ProvidersReceive USD($)Exchange RateFee SGDTotal CostDeal Links
OFX logo
7,287 USD0.72870 for BER users (normally $15)0.8%
DBS Bank logo
7,142.12 USD0.7155182.78%
OCBC Bank International Money Transfers
OCBC Bank logo
7,076.52 USD0.7148S$1003.67%
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo OCBC Bank logo
7,075 USD0.7101183.69%
HSBC logo
7,072.38 USD0.7083S$153.72%
Citibank International Money Transfers
Citibank logo
7,009.58 USD0.7018124.58%
 
OFX: Foreign Transfer SGD→USD
SGD amount:$10,000 SGD
Fee:0 for BER users (normally $15)
Exchange Rate:0.7287 (0.8% from mid-rate)
USD amount:7,287 USD
Total Cost:0.8%
Time:
Rate Fetched: 1:08 Local
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→USD
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:0.7155 (2.6% from mid-rate)
USD amount:7,142.12 USD
Total Cost:2.78%
Difference:
145 USD less than using OFX
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

OCBC Bank logoOCBC Bank

OCBC Bank: Foreign Transfer SGD→USD
SGD amount:$10,000 SGD
Fee:S$100 SGD (1%)
Exchange Rate:0.7148 (2.7% from mid-rate)
USD amount:7,076.52 USD
Total Cost:3.67%
Difference:
210 USD less than using OFX
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer SGD→USD
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:0.7098 (3.38% from mid-rate)
USD amount:7,075 USD
Total Cost:3.69%
Difference:
212 USD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer SGD→USD
SGD amount:$10,000 SGD
Fee:S$15 SGD (.15%)
Exchange Rate:0.7083 (3.58% from mid-rate)
USD amount:7,072.38 USD
Total Cost:3.72%
Difference:
215 USD less than using OFX
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer SGD→USD
SGD amount:$10,000 SGD
Fee:12
Exchange Rate:0.7018 (4.47% from mid-rate)
USD amount:7,009.58 USD
Total Cost:4.58%
Difference:
277 USD less than using OFX
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 07/22/2019 - See full table
 

Welcome to BER Singapore. Here we list useful guides and FX provider reviews plus market updates keep our customers aware of the latest SGD dollar exchange rates, charts and rate changes in the major SGD cross currency pairs.

#Guides
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Market Outlook for the Singapore dollar

SGD/USD – 3 month chart

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).


 

Money Saving Guides

Facebook’s Libra Is Not the Game Changer That’s Being Promised

Enthusiasts would have us believe that Facebook’s own digital currency, Libra, will instantly revolutionize the remittance industry upon its release in 2020 — except it won’t. A harsher reality awaits, with conversion costs, capital gains taxes and a lack of Libra-priced goods all likely to limit its appeal.

Last update: 6 Jul, 2019

Best Multi-Currency Accounts 2019: WorldFirst vs. TransferWise vs. OFX

We compare the features, exchange rates and security of the three best multi-currency accounts available today — the WorldFirst World Account, the TransferWise Borderless Account and the OFX Global Currency Account.

Last update: 12 Jun, 2019

Consumers Throwing Away Billions on FX Fees (TransferWise Study)

As in the rest of the world, consumers in Singapore are being fleeced when it comes to foreign exchange costs, a study by TransferWise has revealed. Individuals in Singapore are being charged 15 times more on international payments than companies are, with S$2 billion lost in hidden FX fees annually.

Last update: 3 May, 2019

A Guide to Buying Overseas Property

Tips on Buying your dream property abroad.

Last update: 3 May, 2019

 

US dollar Market Outlook

USD/SGD – 3 month chart

The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).

As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.

Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

Compare SGD-USD Exchange Rates.

 

Foreign Exchange News

TransferWise Gets Malaysian Remittance Licence

No longer will Malaysians sending money overseas be subjected to grossly inflated exchange rates and unnecessary bank charges following news that TransferWise has been granted a remittance licence by Bank Negara.

19 Jun, 2019 by Joel Wright

Booming Commodities Can’t Save Australian Dollar

The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.

15 Jun, 2019 by Joel Wright

 

Euro Market Outlook

EUR/SGD – 3 month chart

Euro sentiment dipped in mid-June after the ECB, like other major central banks of the world, ramped up its dovish rhetoric. It said that there was “considerable room” for further quantitative easing and that it would consider negative interest rates. Ordinarily, this would spark an extended euro decline but since other major currencies are also wrestling with easier central bank policies, euro depreciation may be contained.

In spite of Brexit, a slowdown in economic growth, Italian risks and persistently weak inflation — an important measure of inflation expectations fell in June to a record low — the euro did fantastically well against the Australian dollar, New Zealand dollar and British pound between mid-April and mid-June. Due to a stronger US dollar, EUR/USD was down 2 percent on the year at $1.12, close to long-term lows.

Compare SGD-EUR Exchange Rates.

 

Reviews – Money Transfer Providers

OFX 2019 Review – Foreign transfers with OFX compared

OFX is one of the world’s largest and best providers of international money transfers. This highly regulated firm offers a complete foreign exchange solution complete with 24/7 phone support.

Last update: 14 Jul, 2019

WorldRemit – BER Review

With WorldRemit, send money online 24/7 to 140 destinations at highly competitive exchange rates. Send to bank accounts and mobile money wallets, top up a loved one’s mobile phone or send for cash pick-up.

Last update: 7 Jul, 2019

OFX Global Currency Account – BER Review

OFX Global Currency Account – Independent BER Review OFX Global Currency Account: A Summary OFX has a 30-year history and is one of the largest foreign exchange specialists in the world. It offers a “Global Currency Account” that allows online sellers to hold, send and receive funds in GBP, EUR, USD, AUD, CAD and HKD. […]

Last update: 1 Jul, 2019

Australian dollar Market Outlook

AUD/SGD – 3 month chart

In late June and early July, the Australian dollar recovered from multi-month lows against a number of important currencies; however, these recoveries were minor relative to losses over the past 18 months. Against the US dollar, at a rate of 70¢ (July-2), the Aussie was 14 percent lower than its best rate from 2018.

Investors have sold AUD in recent months as they’ve bet on aggressive interest-rate cuts by the Reserve Bank of Australia. These bets paid off: the RBA cut its cash rate in both June and July to a record low of 1 percent.

Lower borrowing costs are necessary, investors believe, in light of persistently soft domestic data and the fallout from a US-China trade standoff that shows no sign of nearing an end.

AUD will continue to track changes in interest-rate expectations. Economists expect at least one further cut this year and many expect two by early 2020. After July's cut, the RBA hinted it would leave rates unchanged for several months.

Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.

Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations. Westpac has predicted three cuts this year.

Compare SGD-AUD Exchange Rates.

 

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