BookMyForex Compares forex rates across hundreds of banks and forex companies in your area and helps you discover the best rate for your forex requirement
|SGD Interbank Rate||₹55.0774|
|SGD Buying Rate||₹55.1974|
|SGD Selling Rate||₹54.722|
|SGD Remittance Rate||₹55.5045|
The Singapore Dollar is the official currency of Singapore. Currency notes of SGD are available in the following denominations - 2, 5, 10, 20, 25, 50, 100 and1000, however the 20, 25 and 1000 denominations are rarely found in circulation. Singapore Dollar prepaid forex cards, however, can be loaded with an odd amount as well. Travelers proceeding to Singapore should purchase Singapore Dollars.
In India, Singapore Dollars can be purchased in the form of currency notes and forex cards. It is also possible to make remittances to Singapore from India by either purchasing SGD demand drafts or by making a SGD wire transfer.
|Name: Singapore dollar||Nicknames: Sing, Sing-dollar|
|Symbol: S$ or $||
Coins Freq. Used: 5, 10, 20, 50 cents, $1
Rarely Used: 1 cent, $5, $10
|Minor Unit: 1/100 = Cent||
Banknotes Freq. Used: $2, $5, $10, $50, $100
Rarely Used: $1, $20, $25, $500, $1000, $10,000
|Central Bank Rate: 0.03%||
Central Bank: Monetary Authority of Singapore
|Top SGD Conversion: SGD/MYR||Users: Brunei local, Singapore|
The Singapore dollar or SGD was introduced in 1967, two years after it separated from Malaysia, and was valued against the British Pound at a rate of 8.57 per GBP. The Straits dollar was the currency of the country in the 1920s, which was replaced by the Malayan dollar in 1939. Post the establishment of SGD, three series of coins and four series of banknotes were introduced. Since 1985, the SGD has been allowed to float and has emerged as the 13th most traded currency in the global market. The value of the currency is secured by the country's secured real estate market as well as a strong financial sector. The country's economy is backed by exports of items such as chemicals, electronics, petroleum products, and pharmaceuticals. A meritorious workforce and booming economy contribute to a strong global presence of the SGD.
The need for converting Singapore dollars to rupee can be manifold. Singapore is widely known for its educational opportunities and business market. A large number of Indians fly to the country in search of better career opportunities. Singapore is also a popular destination for travelling. A number of Indians visit Singapore every year, making it a popular holiday destination among the Indians. This explains the scale at which currency exchange occurs between the two countries. The Singapore dollar is also a preferred currency for trading.
If you are planning to visit Singapore, then you must get your currency converted into the Singapore dollar. Though the country accepts some of the other currencies, the SGD is still a preferred one. The value of the SGD fluctuates like any other currency, but it is usually stable due to a robust economy. To make your currency exchange a profitable transaction, you must stay updated with the latest currency exchange rates.
BookMyForex is the country's first currency exchanging platform as well as the largest. Banks that claim to provide you with the best currency value of the day does not provide you with the exact rate. Also, the displayed rates remain constant all day without providing you with an updated rate.
Many of the currency exchangers add hidden charges or additional fees for exchanging your currency. You eventually end up paying quite some money without making much profit from the exchange. But with BookMyForex you can bid goodbye to all these issues.
We allow you to make a transaction by paying only the Government taxes and nothing more. With rates that are updated every 3 seconds, you can expect the desired profit when you finally choose to make a transaction. To top it all, you can even freeze an exchange rate at which you wish to transact.
Besides its official currency, the Brunei dollar is most widely accepted in Singapore. The country also accepts Australian dollars, Pounds Sterling, US dollars, and Yen. However, the best currency to use is the Singapore dollar as you can use it at all local places and and for local transports. But having said that, Australian dollars are also a great option for travelers visiting Singapore. So, prefer choosing between these two depending on your feasibility.
The best Forex card is the one that has zero margin rates, multi-currency loading option, zero issuance fee, and zero-fee on the unloading or loading of currencies. A number of banks and dealers of foreign transactions issues a Forex card. The Forex card that BookMyForex offers allows you to enjoy the smart and advanced features of a modern-day Forex card. We also ensure that the card is loaded with all the possible benefits to make your purchases worthwhile.
For buying Singapore dollars you need to provide certain documents that are mandated by the Reserve Bank of India (RBI). These include your PAN card details, Visa, Air ticket, and Passport. When you are making a transaction online on BookMyForex, all you need to do is upload a copy of these documents on our website. Once the documents are verified, you will be able to exchange the currency. If you wish to sell Singapore dollars, you will have to upload a copy of your Passport on the portal.
There are many options to exchange SGD to INR in India. A traditional method is to get your currency exchanged through banks. But banks usually adds a mark-up to the exchange rates that they offer. You can also opt for the local vendors, but the issue of additional charges will still remain. The next option, which is also the best, is to get the job done on BookMyForex. In addition to staying updated about the most recent currency rate, you can also freeze a rate or get notified when the exchange rate meets your demand. It is also a convenient option, considering that you can complete the entire process without leaving your home.
This is the rate that will apply when you sell Singapore Dollar currency on BookMyForex.com. The amount of INR (Indian Rupees) you'll recieve will be as shown below
Conversion is calculated using the highest SGD-INR Selling rate across India. To see the most accurate rate select the city in the drop down above
This is the rate that will apply when you buy Singapore Dollar currency on BookMyForex.com. The amount of INR (Indian Rupees) you'll recieve will be as shown below
Conversion is calculated using the highest SGD-INR Buying rate across India. To see the most accurate rate select the city in the drop down above
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