Singapore Dollar (SGD) Exchange Rates Today
Live rates, 30-day trends, and real talk about what banks charge you for Singapore Dollar.
Mid-market rate - no bank markup 200+ currencies Free
What is the Singapore Dollar?
Unlike most central banks, MAS uses the exchange rate (not interest rates) as its primary monetary policy tool, managing SGD against a trade-weighted basket.
Symbol: S$ ISO code: SGD Central bank: Monetary Authority of Singapore (MAS)
BIS ranking: 10th most traded (the 10th most bought and sold currency worldwide) Used in: Singapore
This page is a hub for all SGD exchange rates on our site. Use the converter above to check the current mid-market rate for Singapore Dollar against any supported currency, or scroll down to browse individual pair pages with 30-day charts, historical data, and conversion tables.
How the Singapore Dollar exchange rate works
Managed float via exchange rate band
Singapore is unique among major economies: the Monetary Authority of Singapore (MAS) uses the exchange rate - not interest rates - as its primary monetary policy tool. MAS manages the Singapore Dollar against a trade-weighted basket of currencies within an undisclosed policy band.
What this means for you: SGD tends to move gradually rather than in sharp spikes. The MAS adjusts the slope, width, and centre of the band periodically (usually in April and October) rather than setting interest rates. This makes SGD one of the more stable currencies in Asia.
How Singapore Dollar is commonly exchanged
Singapore manages SGD through an exchange rate band (not interest rates) as its primary monetary policy tool. USD/SGD is the most traded pair. SGD is widely used across Southeast Asia for trade settlement and is considered one of the region's most stable currencies.
Most SGD conversions pass through one of the major pairs listed below. For less common combinations, rates are computed as cross-rates through USD or EUR, which may carry a slightly wider spread.
Practical notes for Singapore Dollar
Travel and card conversions
If you are spending in Singapore Dollar, a card with no foreign transaction fee is typically the best option. Always choose to be charged in SGD (the local currency) at point of sale - selecting your home currency triggers Dynamic Currency Conversion, which adds an unnecessary 3-6% markup to your transaction.
Bank spreads
Banks and exchanges add different markups for different currencies. SGD typically has moderate spreads (2-4%) because it is traded in reasonable volume.
Local tip
Singapore is mostly cashless. For the best SGD rates, use an ATM at a major bank (DBS, OCBC, UOB) rather than airport money changers.
The Monetary Authority of Singapore (MAS) and the Singapore Dollar
The Monetary Authority of Singapore (MAS) is unique - it uses the exchange rate, not interest rates, as its primary monetary policy tool.
Policy tool: The SGD Nominal Effective Exchange Rate (S\$NEER) band, adjusted semi-annually in April and October. MAS can change the slope, width, or center of the band.
Key data releases: Singapore GDP (advance estimates), CPI, and MAS monetary policy statements (semi-annual).
Moments that shaped the Singapore Dollar
Independence and currency union breakup (1967)
After separating from Malaysia in 1965, Singapore initially shared a common currency. In 1967, the currency interchangeability agreement ended and Singapore issued its own dollar. The two currencies traded at par until Malaysia broke the arrangement in 1973.
Exchange rate policy innovation (1981)
The Monetary Authority of Singapore adopted the exchange rate - rather than interest rates - as its primary monetary policy tool in 1981. This unconventional approach, managing SGD against a secret trade-weighted basket, has become a case study in monetary policy for small open economies.
Did you know?
- Singapore's Monetary Authority uses the exchange rate - not interest rates - as its primary monetary policy tool, making SGD unique among major currencies.
- Singapore's $10,000 note was once the highest-value banknote in regular circulation worldwide.
- All Singapore banknotes feature the country's first president, Yusof bin Ishak.
Frequently asked questions
Is the Singapore Dollar strong or weak right now?
The Singapore Dollar's strength depends on its performance relative to your base currency. Check the converter above or the pair pages below to see how SGD currently trades against major currencies like USD, EUR, or GBP.
The MAS actively manages the Singapore Dollar's value against a trade-weighted basket of currencies rather than pegging it to a single rate, so strength is best assessed across multiple pairs rather than in isolation.
What factors affect the Singapore Dollar exchange rate?
The Singapore Dollar responds to Singapore's role as a global financial hub and trading center, with rates influenced by trade flows, foreign direct investment, and regional economic conditions. The Monetary Authority of Singapore conducts monetary policy through the exchange rate rather than interest rates, adjusting the currency's trajectory to manage inflation and support growth.
Key drivers also include commodity prices (Singapore imports most of its energy and food), performance of neighboring economies like China and Malaysia, and risk sentiment toward emerging Asian markets.
What is the outlook for the Singapore Dollar?
The Singapore Dollar's direction depends on multiple factors including Singapore's economic growth, the region's stability, global trade patterns, and relative monetary policy between Singapore and major economies. Factors to watch include Singapore's trade data, MAS policy statements, regional geopolitical developments, and the health of key trading partners.
We don't forecast currency movements, but the rate statistics and historical charts on this page show how SGD has responded to these conditions over time.
Is the Singapore Dollar widely used internationally?
The Singapore Dollar is a fully convertible currency and widely traded in foreign exchange markets, but it's primarily used within Singapore and for regional trade in Southeast Asia rather than as a global reserve currency like the US Dollar or Euro. Singapore's status as a major financial center means SGD is actively traded by banks, investment firms, and currency dealers worldwide, and it serves as a settlement currency for trade and financial transactions across the Asia-Pacific region.
For international transactions outside Asia, you're more likely to use major currencies or convert through SGD as an intermediate.
How do I compare SGD rates across providers?
Use the converter above to check current rates for any currency pair involving SGD, and compare the rate you're quoted with the mid-market rate shown here. Banks, remittance services, and online currency platforms typically offer different rates based on their margins and operating costs, so comparing multiple providers before exchanging larger amounts can reveal significant differences.
Check both the exchange rate and any fees charged, as the total cost of conversion depends on both components.
How has the Singapore Dollar performed historically?
The Singapore Dollar has generally appreciated over the long term as Singapore's economy developed into a global financial hub, though it has experienced periods of volatility tied to regional and global economic cycles. Historical performance reflects Singapore's strong fiscal management, stable political environment, and role in international trade, though the currency has weakened during broader Asian financial stress or global downturns.
The rate statistics and charts on this page show SGD's historical trajectory against major currencies, allowing you to see how the currency has behaved during different economic periods.
How volatile is the Singapore Dollar?
The Singapore Dollar is generally considered a relatively stable currency compared to other emerging market currencies, though it still experiences normal fluctuations driven by trade flows, capital movements, and regional developments. Volatility tends to increase during periods of uncertainty in Asia or global markets, but Singapore's institutional strength and MAS's management typically prevent extreme swings.
Check the historical charts and volatility statistics on this page to see how SGD has fluctuated against specific currencies you care about.
What is the best way to exchange Singapore Dollar?
The best method depends on your situation: banks offer security and account integration but typically higher costs, money transfer services like Wise or OFX may offer better rates for international remittances, and currency exchange specialists often provide competitive rates for large transactions. For travelers, airports and tourist areas typically offer poor rates, so exchanging before you travel or using ATMs in Singapore usually costs less.
Compare rates across providers using the converter above and ask about all fees before committing to any exchange.
What is a good USD to SGD exchange rate?
There's no single 'good' rate - it depends on historical context and when you're exchanging. Use the converter above to see the current rate, and check the pair pages and rate statistics to understand how USD/SGD has traded over different time periods.
This historical perspective helps you assess whether today's rate is relatively favorable, though we can't predict future movement or tell you when to exchange.
What documents do you need for currency exchange?
Required documents vary by provider, location, and transaction size. Most banks and exchange services require government-issued ID like a passport or driver's license, and larger transactions may require proof of address or source of funds documentation due to anti-money-laundering regulations.
Check with your specific bank or exchange provider for their exact requirements before visiting, as policies differ and some services may need additional verification for international transfers or large amounts.
Which is the weakest currency?
Currency strength is relative and depends on the currency you're comparing against. Use the converter above to check SGD's rate against any currency you're interested in - a higher number means SGD buys less of that currency, and a lower number means SGD is stronger.
The pair pages below show detailed rates for major currency combinations, letting you see which currencies trade at different levels relative to the Singapore Dollar.
How can I avoid foreign currency transaction fees?
Compare providers before exchanging - online money transfer services and currency specialists often charge lower fees than banks or airport exchanges. Using ATMs in Singapore to withdraw cash directly from your account typically costs less than exchanging at commercial rates.
For larger amounts, using a service that charges a transparent, flat fee rather than a percentage markup, or exchanging directly without intermediaries when possible, can reduce your total cost.
Learn more
- MAS Monetary Policy - How Singapore's unique exchange-rate-based monetary policy works
- Department of Statistics Singapore - Singapore economic data including trade, GDP, and CPI
Singapore Dollar volatility profile
The Singapore dollar shows low to medium volatility. The Monetary Authority of Singapore uniquely uses the exchange rate as its primary monetary policy tool, managing SGD against a trade-weighted basket within an undisclosed band.
Live volatility score updates when market data is available.
Cost to convert Singapore Dollar
Banks typically mark up SGD conversions by 3-5%. Specialist transfer providers offer rates much closer to the mid-market rate shown above, potentially saving you $30-55 on every 1,000 SGD you convert.
| Provider | Typical fee | You receive |
|---|---|---|
| Wise | Mid-market rate + ~0.5% fee | — |
| Revolut | Mid-market rate, free up to monthly limit | — |
| OFX | No fixed fees, ~0.4% spread | — |
| Typical bank | 3-5% markup + fixed fee | — |
Based on sending 1,000 SGD to US Dollar. Costs include spread markup and fees. See full SGD to USD comparison →
Compare Singapore Dollar with similar currencies
Singapore Dollar belongs to the following currency characteristic groups. Currencies within each group often move in correlated patterns.
Pegged and managed currencies
Central banks actively control these exchange rates through pegs, bands, or frequent intervention. Day-to-day volatility is lower, but structural adjustments can be sudden.
Asian trade bloc
Major Asian trading currencies linked by regional supply chains and trade flows. Movements in one often ripple through the others.
SGD rate statistics
Singapore Dollar rate context
We compare the current Singapore Dollar exchange rate against its recent trading range to help you decide whether now is a good time to convert. The live analysis updates throughout market hours.
Rate analysis updates when live data is available.
Forex Market Hours
The forex market is open 24 hours a day, five days a week. Trading passes between these major financial centers as the world turns.
| Market | Timezone | Local Time | Status |
|---|---|---|---|
| 🇦🇺 Sydney | AEST | — | — |
| 🇯🇵 Tokyo | JST | — | — |
| 🇬🇧 London | GMT/BST | — | — |
| 🇺🇸 New York | ET | — | — |
All SGD Currency Pairs
Live exchange rate pages for Singapore Dollar against every supported currency.