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INR → VND · VietnamSingapore Dollar (SGD)
The Singapore Dollar is the official currency of Singapore. For Indian
travellers, the city-state is one of the most-visited destinations in
Asia, both for leisure and as a transit point for travel to other Asian
destinations. Direct flights from Delhi, Mumbai, Bangalore, Chennai,
Hyderabad, and Kolkata make Singapore an easy weekend or short-break
destination from India.
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About Singapore Dollar (SGD)
The story, the role, and the reach of the singapore dollar — explained for Indian travellers, students and businesses.
The Singapore Dollar is the official currency of Singapore. For Indian
travellers, the city-state is one of the most-visited destinations in
Asia, both for leisure and as a transit point for travel to other Asian
destinations. Direct flights from Delhi, Mumbai, Bangalore, Chennai,
Hyderabad, and Kolkata make Singapore an easy weekend or short-break
destination from India.
Singapore is also a major business and financial hub for India, with
significant Indian corporate presence and a large Indian expat
community. The Indian population in Singapore is around 9 percent of the
total resident population. Singapore is also one of the top remittance
destinations from India for family support, education, and investments.
This page covers what the dollar is, how it moves against the rupee, and
where to buy it in India. For today's live rate, jump to the rate page
below.
A short history
From its origins to the modern singapore dollar you know today.
The Singapore Dollar was introduced in 1967, two years after Singapore
separated from Malaysia. Before independence, Singapore used the Malaya
and British Borneo Dollar, which had been the currency of British
colonial territories in Southeast Asia since 1953.
From 1967 to 1973, the SGD was interchangeable with the Malaysian
Ringgit and the Brunei Dollar through the Currency Interchangeability
Agreement. After 1973, only the SGD-Brunei Dollar interchangeability
remained at par. Today, Brunei Dollars are accepted in Singapore at the
same value, and vice versa.
Singapore has one of the most distinctive monetary policy frameworks in
the world. The Monetary Authority of Singapore (MAS) manages monetary
policy through the exchange rate rather than interest rates. MAS sets a
target band for the SGD against a trade-weighted basket of currencies,
and intervenes in the FX market to keep the rate within the band. This
is rare globally and reflects Singapore's small, open, trade-dependent
economy.
The Singapore Dollar has been one of the strongest performing currencies
in Asia over the past two decades, reflecting Singapore's economic
discipline and reserves.
Denominations you'll use
The notes and coins in actual circulation — and which ones you'll see most.
Singapore notes feature Yusof bin Ishak, Singapore's first President, on
the obverse side. The reverse shows themes including education, arts,
culture, sports, and government. The current series is called the
Portrait Series, introduced from 1999.
Banknotes
- S$2 (purple, smallest commonly used note)
- S$5 (green)
- S$10 (red, most commonly used note)
- S$50 (blue)
- S$100 (orange, largest commonly used note)
- S$1000 (purple, being phased out. Old notes remain legal tender but new ones are not being issued.)
Coins
- 5¢, 10¢, 20¢, 50¢ (silver-coloured)
- S$1 (gold and silver bi-metallic)
When buying SGD from Matrix Forex, ask for a mix of S$10 and S$50 notes.
S$50 is the most useful for daily spending. The S$100 carries value but
is harder to spend in small establishments.
How the SGD moves
The forces and policy decisions that shape its value against the rupee.
The Singapore Dollar is unique among major currencies because it is
managed against a trade-weighted basket of currencies, not pegged to a
single currency and not freely floating. The Monetary Authority of
Singapore (MAS) sets a target band and intervenes to keep the SGD within
it.
Against the Indian Rupee, the SGD moves based on:
- MAS policy. Twice-yearly MAS monetary policy statements set the target band's slope, midpoint, and width. Any tightening or easing of this band moves the SGD.
- Singapore's trade and inflation data. As a trade-heavy economy, Singapore's export and import data move the SGD.
- Regional dynamics. Movements in the Chinese yuan, Japanese yen, and other Asian currencies affect the SGD because they are part of the SGD basket.
- The dollar side. USD/INR movements affect SGD/INR even when the SGD itself is stable against its basket.
SGD/INR has strengthened significantly through 2025, gaining around 11
percent over the year. The pair has continued to climb through 2026 and
has recently traded around ₹70 to ₹73.
Why Indians buy SGD
The everyday use-cases — travel, education, business — that bring Indians to this currency.
SGD demand from India breaks into four buyer types.
Leisure travellers
Singapore is one of the most-visited international destinations for
Indians, with year-round demand. Universal Studios, Marina Bay, Sentosa,
Gardens by the Bay, and Singapore's food scene draw families and groups.
A typical 4 to 6 day Singapore trip needs SGD 600 to SGD 1,500 in
spending money.
Business travellers
Singapore is a major business hub for India in Asia. Frequent business
travel for finance, technology, conferences, and trade. Most carry SGD
400 to SGD 800 in cash plus a forex card.
Students
Indian students study at NUS, NTU, SMU, and other Singapore
universities, particularly for postgraduate programmes in business,
engineering, and computer science. Tuition is significant, with annual
costs from SGD 20,000 to SGD 50,000 for international students.
Family support and PR holders
Indians with permanent residency or working in Singapore often have
families remitting from India for setup, family support, or property
purchases.
Using SGD in Singapore
Cards vs cash, ATM tips, common pitfalls — what to know before you travel.
Singapore is one of the most card-friendly and cashless economies in
Asia. Almost every retail transaction can be done by card, mobile
wallet, or QR code. NETS (the local payment network), Visa, Mastercard,
and contactless payments work universally. Cash plays a smaller role
than in most countries, though it is still useful in specific places.
Places that prefer cash
- Some hawker centre stalls (though most have moved to NETS QR or PayLah!)
- Smaller markets and wet markets
- Taxis (though all accept cards, cash is still common)
- Tips at smaller establishments
Places where cards work well
- Almost universally across malls, restaurants, and chains
- Public transport (use EZ-Link/SimplyGo card or contactless bank card directly)
- Tourist attractions and theme parks
- Hotels and major chains
EZ-Link card
EZ-Link is Singapore's transit card, used on the MRT (subway), LRT, and
buses. You can load SGD onto the card and tap-in tap-out at gates.
EZ-Link is also accepted at some retail stores. The newer SimplyGo
system (launched 2024) allows you to use your contactless bank card or
phone directly at MRT gates without buying an EZ-Link, which is often
easier for short visits.
Tipping culture
Tipping is not expected in Singapore. Restaurants typically add a 10
percent service charge automatically, plus 9 percent GST (Goods and
Services Tax). The total "++" on a menu price means service plus GST
will be added. No additional tip is needed. Taxis usually get the fare
rounded up. Hotel porters: S$2 to S$5 per bag is appreciated but
optional.
How to get SGD in India
Your options — branches, banks, online forex providers, and the airport route.
Cash (SGD notes)
Up to USD 3,000 equivalent per trip in foreign currency notes, roughly
SGD 3,800 at current rates. Matrix Forex sells SGD at the live interbank
rate with same-day delivery across 21 Indian cities. Ask for a mix of
S$10 and S$50 notes.
Forex card
Load SGD onto a forex card before travel. The Matrix Forex Card supports
28 currencies including SGD, with no markup on the live interbank rate.
Wire transfer
For tuition fees, family support, or business payments, send SGD
directly to a Singapore bank account via SWIFT. Funds reach Singapore
typically within 24 hours.
What most travellers actually do
For a 4 to 6 day Singapore trip: SGD 200 to SGD 400 in cash, a forex
card loaded with another SGD 500 to SGD 1,000, plus an Indian credit
card for emergencies. Singapore is card-friendly enough that you can
survive almost entirely on cards if you prefer.
CTA: Go to Live Rate Page · Links to: /singapore-dollar/rate/
Rules and limits
LRS, TCS, KYC and the FEMA rules every Indian needs to know.
USD 3,000 equivalent per trip from India.
Travellers carrying SGD 20,000 or more (or its equivalent in foreign currency) into or out of Singapore must declare it to Singapore Customs. This rarely applies to leisure or business travellers.
USD 2,50,000 per financial year.
TCS applies above ₹10 lakh per financial year. Self-funded education and medical: 5 percent above ₹10 lakh. Travel, family support, gifts: 20 percent above ₹10 lakh. Section 80E education loan: 0 percent.
PAN, passport, Singapore visa (if required; many Indians can apply for e-visa or visa-on-arrival), and confirmed flight ticket.
Keep up to USD 2,000 equivalent in foreign currency notes after return. Matrix Forex buys back unused SGD at the live interbank rate.
Frequently asked questions
is issued by the Monetary Authority of Singapore.
at par value under the Currency Interchangeability Agreement of 1967.
Brunei notes and coins are accepted at Singapore retailers, and vice
versa.
has strengthened sharply through 2025 (gaining around 11 percent) and
continued through 2026, recently trading around ₹70 to ₹73 against the
rupee.
400 in cash plus another SGD 500 to SGD 1,000 on a forex card. Budget
travellers can manage on SGD 100 to SGD 150 per day; mid-range SGD 200
to SGD 300 per day.
on Indian credit cards. A forex card avoids this markup.
credit cards work almost everywhere. Singapore is one of the most
cashless societies in Asia. Cash is still useful at hawker centres and
some markets, but most transactions can be done digitally.
contactless bank card or phone directly at MRT gates. For a short trip,
this is often easier than buying an EZ-Link. For longer stays, an
EZ-Link card has slightly lower per-trip fees and works at more
retailers.
interbank rate with same-day door delivery across 21 cities, or in
person at our nine branches.
