Singapore Dollar - SGD
MYR - SGD exchange rate today: 0.3183 (+0.19%)
GBP - SGD exchange rate today: 1.7315 (-0.45%)
The Singapore dollar - often shortened locally to Sing dollar - is the official currency of Singapore. The international currency code for the Singapore dollar, used in exchange offices and official documents, is SGD. You'll also see the regular dollar symbol - $ - used, although SG$ and S$ are also substituted to distinguish Singapore dollars from other dollar currencies. SGD is one of the strongest currencies in the Asia Pacific region, and the 13th most traded currency in the world.
Mid-market rates, correct as of 2nd May 2022, 23:00 GMT.
What is SGD currency?
The currency code SGD is used to refer to Singapore dollars - the official currency of Singapore, which is also used in Brunei.
When was the SGD introduced?
The first Singapore dollars were issued in 1967, after Singapore's independence from Malaysia and the breakdown of the local monetary union between Singapore, Malaysia and Brunei. However, these currencies remained closely linked - SGD was exchangeable at par with the Malaysian ringgit until 1973, and remains interchangeable with the Brunei dollar today.
What is the currency symbol for Singaporean dollar?
The currency symbol used to denote the Singapore dollar is $. You'll also find S$ or SG$ used to differentiate Singapore dollars from US and other dollar currencies.
How much is SGD worth?
The value of SGD changes according to market forces - although the Monetary Authority of Singapore can intervene to keep the value stable when it needs to. The best way to check what SGD is worth compared to your currency is to use a Google search or an online currency converter. This will show the mid-market exchange rate for your currency pair - the value of SGD on the wholesale currency markets.
Best SGD-USD exchange rate?
The best SGD-USD exchange rate available is likely to be the mid-market exchange rate - the one used on global currency markets.
However, this rate changes all the time due to fluctuations in supply and demand. You'll be able to find the live mid-market SGD-USD exchange rate using a simple Google search.
It's worth knowing that the mid-market exchange rate isn't used by many banks and exchange services. Instead it's common for providers to add a markup - an extra fee - to the rate offered to regular customers. That means that to find the best SGD-USD exchange rate available for retail customers you'll need to do some research. Look out for providers which use the mid-market exchange rate and charge a transparent fee for their services, as these are likely to work out best value overall.
Is SGD pegged to USD?
The Singapore dollar is not pegged to the US dollar. SGD is allowed to float within a monitoring band - meaning the value will go up and down but is kept within a preset range based on the value of currencies used by its major trading partners.