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Singapore Dollar
About The Singapore Dollar: The Strong Currency of Singapore
Quick Facts About the Singapore Dollar Notes
| Country of Origin | Singapore |
| Symbol | S$ |
| Currency Code | SGD |
| Nick Names | Cent |
| Minor units | Sing |
| Denominations (Banknotes) | 2, 5, 10, 20, 25, 50, 100, 1000 and 10,000 dollars |
| Motto | Majulah Singapura (Onward Singapore) |
| Identification Feature | The new 100 Dollar note boasts an image of Independence Hall. |
| Issuing Bank | Monetary Authority of Singapore |
| In Circulation Since | June 12, 1967 |
| INR Exchange Rate | 64.6327 |
Republic of Singapore, a sovereign island nation in Southeast Asia, issues its own currency, known as the Singapore Dollar (SGD). To differentiate it from other dollar currencies like the US dollar or the Canadian dollar, the Singapore dollar symbol is S$. The Singapore Dollar is widely regarded as one of the world's safest and most secure currencies.
The current rate of Singapore Dollar is INR (64.6327 ) . You can keep an eye on the live Singapore Dollar value.
History of the Singapore Dollar
From 1845 to 1939, Singapore had a currency called the Straits Dollar. The Malayan dollar succeeded it, and in 1953, the Malaya and British Borneo dollar took its place. Singapore used this currency until the 1965 breakdown of the currency union between Malaysia, Singapore, and Brunei.
As of April 7, 1967, Singapore had its own currency after gaining independence from Malaysia in 1965. It wasn't until 1973 that the Singapore Dollar stopped being pegged to the Malaysian ringgit.
To protect Singapore against imported inflation and keep its exports competitive, the Monetary Authority of Singapore (MAS) is responsible for the Singapore Dollar to allow the currency to float since 1985.
Countries Accepting the Singapore Dollar
Singapore's legal tender is the Singapore Dollar. As a result of Singapore's rise to prominence, the Singapore dollar has become a major international currency.
Amount in the Singapore Dollar You Should Carry for Your Trip
The amount of money you spend on your trip to Singapore will depend on a number of factors, including the number of times you dine at restaurants outside of your hotel, the level of luxury of the hotel you stay in, and the amount of money you spend on transportation. If you want to go on vacation and still be able to satisfy all of your demands, you should set aside approximately SG$65 per day in your budget. You may easily spend more than SG$450 per day on an opulent vacation if you splurge on items like private transportation, lunches at restaurants with Michelin stars, and stays at five-star hotels. Keep in mind that the entire cost of your vacation with your significant other could range anywhere from SG$140 to SG$1,000, depending on the particulars of your trip, if the two of you are considering taking a trip together.
There is a wide range of prices that can be paid on a nightly basis for a single hotel room in Singapore, from SG$40 to SG$290 per person per day. This is an approximation of the total amount per year that is in question. Your daily transportation costs could range anywhere from SG$7 to SG$30 per day, depending on whether you walk, ride the bus, or call a cab. This would be determined by your choice of transportation.
You can check out the Singapore dollar rate today to start planning your trip to this modern tourist destination as per the Singapore dollar price.
Best Ways to Identify Counterfeit Singapore Dollar Notes
There are a few ways through which you can spot the counterfeit Singapore Dollar notes:
When the authentic bill is held up to the light, a multicoloured image of the late Encik Yusof bin Ishak appears as a watermark. The watermark seems three-dimensional, with sections of light and dark colouration.
Holding the thread up to the light reveals a succession of writing that includes the denomination number of the note and the word "SINGAPORE" in the four official languages.
The Singapore Lion insignia on the front of the authentic note lines up exactly with the picture on the back when held up to the light.
At a higher magnification, the micro-lettering reading "BCCS" or "MAS" in the denomination numeral's shadow of the authentic note becomes legible.
Under ultraviolet light, the serial numbers and front seal on the authentic note emit a vivid glow due to the fluorescent pigment used. This element is also included on both the front and back designs of the note.
Asymmetrical serial numbers are written with greater digits in successive spots on the authentic notes. The serial numbers are shown in a horizontal and a vertical format, respectively. Both of the serial numbers are UV-luminescent.
Process of Exchanging the Singapore Dollar
The process of converting the Singapore Dollar to Indian Rupee is immensely easy. Please note that the 1 Singapore Dollar to INR value is subject to change so keep an eye on the Singapore Dollar rate alert. Below, we have mentioned some of the popular ways to convert Singapore Dollars to Rupees.
Internationally-Accepted Card
A multi-currency forex card is counted among the most economical and safest way of carrying the Singapore Dollar.
The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.
Online Forex Marketplace
The simplest and most cost-efficient way of converting your Singapore Dollar is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.
Visiting Your Bank
The most traditional way of converting the Singapore Dollar to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Singapore Dollar convert to Indian Rupees.
Local Money Changers
You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Singapore Dollar exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Singapore Dollar to INR.
On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.
Airport
If you would like to convert the Singapore Dollar in India, one of the costliest ways to do so would be to get the Singapore Dollar exchanged at an airport due to the exorbitantly high SGD exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.
Exchange the Singapore Dollar with BookMyForex
BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the SGD to Indian Rupees as well as Indian Rupee to Singapore Dollar. Please note that the 1 Singapore Dollar to INR value is subject to change so keep an eye on the Singapore Dollar rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:
Wide Range of Products
Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency Card - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - MakeMyTrip also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like MMT to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.
Best Exchange Rates
BookMyForex makes it easy for you to buy Singapore Dollar or sell Singapore Dollar at live and best exchange rates.
Quick Money Transfer
You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.
Home Delivery
BookMyForex delivers the Singapore Dollars at your doorstep. So, you can simply order and receive your currency from the comfort of your home.
Best Rates to Exchange the Singapore Dollar
You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Singapore Dollar in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Singapore Dollar in India in real-time on the platform and get the best deal. Currently, 1 SGD is equivalent to 64.6327 INR .
Best Ways to Carry the Singapore Dollar
BookMyForex allows you to convert INR to the Singapore Dollar at the best exchange rates so that you can carry the Singapore Dollars without any hassle. Some of the best ways to carry the Singapore Dollar are mentioned below:
Currency Notes
You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.
BookMyForex Multi-Currency Card - 0% Forex Mark-Up
The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.
How to Buy the Singapore Dollar at Best Rates - Currency Notes and Cards
Whether you want to buy forex cards and currency notes or sell the Singapore dollar, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the ** Singapore dollar to SGD* or INR to Singapore dollar, you only need to follow the below-written steps:
- STEP 01
Select your city from the drop-down list.
- STEP 02
Choose the currency you have and the currency you want.
- STEP 03
Opt for a forex card or currency notes from the list.
- STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
- STEP 05
The converted currency amount according to the exchange rate will show up automatically.
- STEP 06
Then proceed with booking your order.
Documents Required to Buy or Sell the Singapore Dollar
Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Singapore Dollar in India.
Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)
Different Purposes for Exchanging the Singapore Dollar
Private Travel: You can avail of up to SGD 10,000 for a private trip to the Singapore.
Studying Abroad: You can purchase foreign exchange of up to SGD 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to SGD 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to SGD 5,000.
Gift and Donation: You can gift or donate up to SGD 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to SGD 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.
Buy and Sell the Singapore Dollar Online at Best Exchange Rates
With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Singapore Dollar in Indian Rupees so that you can stay updated with the ever-changing Singapore Dollar value when converting your money to other currencies.
Home Delivery of the Singapore Dollar
In addition to a smooth online process, BookMyForex also delivers the Singapore Dollars right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.
Other currencies to INR Conversion
- USD to INR
- EUR to INR
- AED to INR
- THB to INR
- SGD to INR
- KWD to INR
- CHF to INR
- HKD to INR
- SAR to INR
- CAD to INR
- ZAR to INR
- AUD to INR
- JPY to INR
- GBP to INR
- NZD to INR
- MYR to INR
- VND to INR
- BHD to INR
- IDR to INR
- KRW to INR
- NOK to INR
- DKK to INR
- RUB to INR
- LKR to INR
- PHP to INR
- MUR to INR
- BDT to INR
- PLN to INR
Frequently Asked Questions
How do I get cashback after placing my forex order?
Find out more about the cashback offer on your Singapore Dollar (SGD) purchase by clicking here.
What will happen to the leftover Singapore Dollar currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
How much time will it take for SGD to be delivered to home?
Singapore Dollar exchanged through currency notes and cards reach your home in a day.
How much SGD can I carry to Singapore as a student?
As a student, if you are carrying S$20,000 (or its equivalent in a foreign currency) or more, you are required by law to submit a full and accurate report to the Singapore Police Force.
Can I invest in the Singapore Dollar?
Yes, you can invest in the Singapore Dollar via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Singapore Dollar notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Singapore Dollar in India?
While it is acceptable to hold the Singapore Dollar up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
What if I run out of the Singapore Dollar currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.
How many cents are there in 1 Singapore Dollar?
The subunit of the Singapore Dollar is the cent. 100 cents make up 1 Singapore Dollar.
Which are the most frequently used denominations of the Singapore Dollar?
When it comes to Singapore Dollar banknotes, the most commonly used denominations are $2, $5, $10, $50 and $100. On the other hand, the most frequently used coins are 5c, 10c, 20c, 50c and $1.
Can I use Singapore Dollars outside of Singapore?
While Singapore is the official user of the Singapore Dollar, this currency is also considered to be the customary tender in Brunei. So, you can convert your currency before visiting these regions at the best Singapore dollar rate.
Does Singapore have any commemorative coins?
Yes, there have been several commemorative coins issued over the years to celebrate personalities and special events. On 15 May 2023, the Monetary Authority of Singapore issued a $10 coin to celebrate the 100th birth anniversary of Lee Kuan Yew who was the founding Prime Minister of Singapore.
How many currency series are issued in Singapore?
There have been four series of currency notes and three series of coins issued since the year 1967. The Banknotes series are known by the name of Orchid (1967), Bird (1976), Ship (1984) and Portrait (1999).