Travelling to Singapore? Need to send or receive payments or transactions in Singapore Dollar (SGD) currency? It’s important to understand how the Singapore Dollar compares with other major currencies of the world, like the US Dollar (USD), the Euro (EUR), the Indian Rupee (INR), the Pakistani Rupee (PKR), the Russian Ruble (RUB), the Bangladeshi Taka (BDT), and others. Here are today’s currency exchange rates in Singapore and their implications.
Exchange Rate Snapshot
As of today (Singapore time), here are some of the key conversion rates for the Singapore Dollar (SGD) to some currencies:
Note: The currencies listed above are generally accepted as more accurate rates. Other currencies, such as BDT (Bangladeshi Taka), can also be much more variable and may not be displayed in every source of data.
If you are looking for detailed conversion breakdowns, especially for travel or trade between Singapore and South Asian currencies, read our entire article here on “Singapore Dollar to Indian Rupee live rate today”. That page includes a detailed table with every conversion you would need, plus tips on how to get some better rates and how to track them over time.
The Importance of These Rates
1. For Travellers
Whether you’re coming to Singapore from India, Pakistan, or another neighbouring country, it’s useful to know what the exchange rate for your currency is against SGD to help with budgeting.
2. For Business & Remittances
In South Asia, many freelancers or businesses pay/receive payments in either SGD or USD. Knowing the live exchange rate helps to decide when to convert or send.
3. For Forex & Investment
Currency fluctuations impact importing and exporting costs as well as investments. Singapore has a managed-float exchange regime, so while the rate can fluctuate, it is based on global factors that can impact demand.
Frequently Asked Questions
Q1: Is the rate stated above what I would receive at a money-changer?
A: Not quite. The rates provided above are mid-market rates (which you will see displayed in tools such as XE or Wise). Money changers, banks, and transfer services will charge fees or apply a markup to the rates.
Q2: How often do these rates change?
A: Frequently, the foreign exchange market is open 24 hours and will change according to supply and demand, which can vary with geopolitical events, as well as trends in the release of economic data. The above table is simply a snapshot in time.
Q3: Why are there different rates posted on websites?
A: There can be different rates posted for a number of reasons, including the time of day updated, whether the website is showing an exchange buy/sell as opposed to a mid-market rate, and various amounts that can differ due to local regulatory/transfer costs.
Q4: Should I wait for a “better” exchange rate before converting?
A: Possibly, however, predicting currency movement is essentially gambling. If you need to convert a certain amount by a certain date (for example, travel dates) then it is reasonable to convert when you are ready and comfortable with the risk.
Q5: What if I want to convert money quickly online?
A: You can always use trusted currency-converter tools (such as XE, Wise) or a bank or transfer app that references live rates. Just be sure to check for any fees.
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