A live SGD converter, today’s mid-market rates, and a plain-English guide to converting Singapore dollars without overpaying on fees.
Whether you’re paying an overseas supplier, sending money home, booking a holiday or buying US-listed shares, the first question is always the same: what is the Singapore dollar actually worth today, and how do you convert it without losing money in the process? This page gives you a live currency converter, today’s Singapore dollar exchange rates against the currencies Singaporeans use most, and a plain-English guide to getting more of your money across, including the fees that quietly eat into every conversion. It’s for general information and education only, and is not financial advice.
Singapore Dollar Currency Converter
Singapore Dollar Currency Converter
Live mid-market reference rates. Enter an amount to convert instantly.
Converted amount
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Rates are indicative mid-market reference rates, shown for general information only. They are not a dealing or transaction rate and will differ from the rate a bank, card or transfer service gives you once fees and margins are added. Not financial advice.
Enter an amount, choose your “from” and “to” currencies (defaulting to SGD to USD), and see the converted figure instantly. The converter shows the mid-market reference rate, the midpoint between the global buy and sell prices, and the rate you’ll see quoted on Google or Reuters. It’s the fairest benchmark to measure any offer against, but it is not the rate a bank, card or transfer service will actually give you once their margin and fees are added (more on that below). Rates are indicative and update [frequency]; last updated [HH:MM SGT, date].
Today’s Singapore Dollar Exchange Rates
The table below shows indicative mid-market rates for the Singapore dollar against the currencies most commonly converted here, covering major travel destinations and the biggest remittance corridors from Singapore. Rates move continuously whenever markets are open, so treat these as a reference and check the live converter above before you transact.
| Currency | 1 SGD = | 1 unit = SGD |
|---|---|---|
| US Dollar (USD) | [0.77] | [1.29] |
| Malaysian Ringgit (MYR) | [3.28] | [0.30] |
| Euro (EUR) | [0.71] | [1.41] |
| British Pound (GBP) | [0.61] | [1.64] |
| Australian Dollar (AUD) | [1.18] | [0.85] |
| Japanese Yen (JPY, per 100) | [116] | [0.86] |
| Chinese Yuan (CNY) | [5.52] | [0.18] |
| Hong Kong Dollar (HKD) | [6.03] | [0.17] |
| Indian Rupee (INR) | [68] | [0.015] |
| Indonesian Rupiah (IDR, per 1,000) | [12,600] | [0.079] |
| Thai Baht (THB) | [25.0] | [0.040] |
Indicative mid-market rates as of [date/time] SGT. For reference only, not a dealing or transaction rate. Verify the live figure before converting.
How the Singapore Dollar’s Exchange Rate Is Set
Most people are surprised to learn that Singapore’s central bank, the Monetary Authority of Singapore (MAS), doesn’t steer the economy mainly through interest rates the way the US Federal Reserve or the European Central Bank do. Instead, MAS runs an exchange-rate-centred monetary policy: it manages the value of the Singapore dollar directly. For a small, trade-reliant economy where imports and exports dwarf domestic demand, the currency is the most powerful lever for keeping inflation stable.
In practice, MAS manages the Singapore dollar against an undisclosed basket of currencies of its major trading partners, weighted by how much Singapore trades with each. This trade-weighted measure is known as the Singapore dollar nominal effective exchange rate, or S$NEER. Rather than fixing the currency at a single rate, MAS lets it float within an undisclosed policy band. The band has three features MAS can adjust: its slope (the pace at which the currency is allowed to appreciate or depreciate over time), its width (how much day-to-day fluctuation is tolerated), and its mid-point (the centre around which it trades).
This is what economists call a managed float, a middle path between a hard peg (like the Hong Kong dollar’s fixed link to the US dollar) and a free float (like the pound or the yen). When MAS wants to tighten policy to cool inflation, it can steepen the slope, let the band appreciate faster, or re-centre it higher; to support growth, it can do the reverse. MAS reviews this policy at scheduled meetings through the year, having moved from twice-yearly to a quarterly schedule in 2024.
For you, the practical upshot is that the Singapore dollar tends to be comparatively stable and gently appreciating over the long run against a basket of currencies, one reason it’s considered a resilient “safe haven” in the region. It still moves against any single currency, though: the SGD can strengthen against a weak US dollar while softening against a strong euro in the same month. That’s exactly why checking the specific pair you need, and the rate you’ll really get, matters.
The Exchange Rate You See vs the Rate You Get
Here’s the part most converters won’t tell you: the mid-market rate shown above is almost never the rate you actually receive. Providers make money on currency conversion in two ways, and you need to weigh both.
1. The exchange-rate markup (the spread). This is a margin added to the mid-market rate, say, converting your SGD at a rate 1% to 3% worse than the real midpoint. Because it’s baked into the rate itself, it’s easy to miss. A service can advertise “zero fees” and still take a healthy cut through a wide spread.
2. The transfer or transaction fee. This is the visible charge: a flat fee (common on bank telegraphic transfers), a percentage, or both.
Your total cost is the markup plus the fee. A provider with a small flat fee but a tight rate often beats a “no-fee” provider with a padded rate, especially on larger amounts. The simple habit that saves the most money: compare the final amount the recipient receives across providers, not the headline rate or the fee in isolation.
To make it concrete, here’s an illustrative comparison of converting S$1,000 to US dollars three ways:
| Converting S$1,000 to USD | Rate applied | Fee | You end up with |
|---|---|---|---|
| Mid-market (the benchmark) | Mid-market | None | ~US$770 |
| A digital transfer service | Mid-market + small margin | Low | ~US$762 |
| A bank telegraphic transfer | Mid-market + wider margin | Higher flat fee | ~US$745 |
Illustrative only, to show how markups and fees stack up, not live quotes. Actual figures vary by provider, amount and timing.
A few rate traps worth knowing: airport and hotel money changers tend to offer the worst rates by a wide margin; rates can widen on weekends and public holidays when wholesale FX markets are closed; and converting an unusual or less-liquid currency generally costs more than a major pair like SGD/USD.
The Best Ways to Exchange and Convert Singapore Dollars
There’s no single “best” way to change Singapore dollars: the right choice depends on whether you need cash in hand, want to spend abroad, are sending money overseas, or are converting to invest. Here’s how the main options compare.
| Option | Typical rate markup | Fees | Speed | Best suited to |
|---|---|---|---|---|
| Banks (DBS, OCBC, UOB) | Higher | Telegraphic-transfer fee | 1 to 2 business days | Large transfers where you value a long-standing banking relationship |
| Digital transfer services (Wise, Instarem) | Low | Low, transparent | Minutes to 1 day | Overseas remittances and recurring transfers |
| Multi-currency cards (YouTrip, Revolut, Wise) | Low to mid | Low or none on spend | Instant at point of sale | Travel spending and holding several currencies |
| Physical money changers | Varies widely | None (built into rate) | Instant | Cash in hand for travel (compare a few before committing) |
| Brokerage FX | Low | Platform FX fee | Same day | Converting SGD to USD to invest in overseas markets |
For everyday overseas spending, a multi-currency card usually wins on convenience and rate. For sending money abroad, specialist digital services are typically the cheapest once you compare the final amount received. If the reason you’re converting is to invest, say, moving SGD into US dollars to buy American shares, the FX built into a brokerage account like Syfe Brokerage can be more efficient than converting separately and transferring the money in, and it keeps your cash within one platform. See our guide to buying US-listed shares from Singapore for how that works end to end.
How to Choose a Currency Converter or Exchange Service
With dozens of apps, cards and counters competing for your conversion, a short checklist cuts through the noise:
- Compare total cost, not the headline rate. Add the exchange-rate markup and any fee together, and look at the final amount received.
- Match the service to the job. Cash for a trip, spending abroad, sending money and converting to invest each have a different cheapest option.
- Factor in the amount. On small sums, a flat fee hurts most; on large sums, a fraction of a percent on the rate matters more than the fee.
- Check the speed you actually need. Instant conversion can cost more; if you’re not in a hurry, a slower transfer is often cheaper.
- Consider the currency. Major pairs like SGD/USD are cheap and liquid; exotic currencies carry wider spreads.
- Use a MAS-licensed, reputable provider. Regulation and a clear track record matter when your money is in transit. You can check a provider’s status on the MAS Financial Institutions Directory.
Tips for Beginners
If you’re new to managing currency, these habits will save you the most money with the least effort:
- Benchmark every offer against the mid-market rate shown in the converter above; it’s your reference point for a fair deal.
- Avoid airport, hotel and tourist-area money changers; their convenience comes at a steep cost.
- Mind the timing: spreads can widen over weekends and public holidays when wholesale markets are shut.
- Split large transfers and compare a couple of providers rather than defaulting to your bank out of habit.
- Confirm the provider is MAS-licensed before sending anything sizeable.
- Don’t leave spare Singapore dollars sitting idle at 0%. Cash you’re holding for an upcoming conversion, trip or payment can still earn a return while it waits, which brings us to the next section.
Making Your Singapore Dollars Work While They Wait
Converting currency is one moment in a longer journey, and money spends a lot of that journey simply waiting: the lump sum you’ve set aside to change next month, the “soon money” earmarked for a trip, or the buffer you keep for overseas payments. Left in an everyday account, that cash typically earns little or nothing while it sits there.
A cash management account is designed for exactly this kind of money. A flexible place to hold cash you’ll need soon lets your Singapore dollars earn a projected return with no lock-up, so you keep access while you decide when and how to convert. For money you won’t touch for a set period, Cash+ Guaranteed offers a fixed rate over a chosen term. And if you’ve already converted to US dollars and are holding them for an upcoming payment or investment, a USD cash option lets that balance earn too, rather than sitting idle between transactions.
It’s worth weighing the trade-offs for your situation: how a flexible cash account compares with a fixed deposit is a useful starting point, as are these ways to get more from the cash sitting in your account. Returns on flexible cash products are projected rather than guaranteed and can change, so check the current figure before you commit.
Frequently Asked Questions
The fairest benchmark is the mid-market rate shown in the converter above, the midpoint of the global buy and sell price. No consumer provider gives you exactly that rate, but the closer an offer sits to it once fees are included, the better the deal. Always compare the final amount you receive, not the advertised rate alone.
Usually not. Banks, cards and transfer services add a margin to the mid-market rate (the spread) and sometimes a separate fee. The mid-market rate is the benchmark to measure offers against, not the rate you’ll be charged.
MAS manages the Singapore dollar against an undisclosed basket of major trading-partner currencies, the S$NEER, and lets it float within a policy band it can adjust by changing the band’s slope, width or mid-point. It’s a managed float, reviewed at scheduled meetings through the year (now on a quarterly schedule). MAS does not fix the currency to a single rate.
For transfers, specialist digital services are usually cheapest once you compare the final amount received; for spending abroad, a multi-currency card often wins; for cash, compare a few money changers. The cheapest option depends on the amount, the speed you need and whether you want cash, a transfer or a card balance.
A converter using live mid-market data is accurate as a reference for the real market rate, but it reflects the benchmark, not the retail rate you’ll be offered. Use it to gauge a fair rate, then compare actual provider quotes before converting.
For spending overseas, a card or digital wallet usually beats carrying cash on both rate and safety. For sending money to someone abroad, a digital transfer is typically cheapest and fastest. Physical cash mainly makes sense for small amounts or places where cards aren’t accepted.
Read More
- How to Buy Stocks in Singapore
- ETF Investing in Singapore: A Practical Guide for Beginners
- Singapore Stock Market: A Beginner’s Guide to the SGX
Disclaimer
This article is provided by Syfe Pte. Ltd. for general information and educational purposes only. It is not financial advice and does not constitute a recommendation, offer or solicitation to buy, sell or convert any currency or investment product. Exchange rates shown are indicative mid-market reference rates as at the stated date and time, are provided for reference only, and are not dealing or transaction rates; they change continuously with market conditions. Any returns referenced on cash products are projected, not guaranteed, and are subject to change. You should consider your own objectives, financial situation and needs, and seek independent advice where appropriate, before making any financial decision.
Syfe Pte. Ltd. is regulated by the Monetary Authority of Singapore (Capital Markets Services Licence No. CMS100837). This advertisement has not been reviewed by the Monetary Authority of Singapore.
