The currency of Singapore
Singapore
DollarSGD
The currency of Singapore is the Singapore dollar (SGD), divided into 100 cents and issued by the Monetary Authority of Singapore (MAS). It is managed against a basket of currencies, not pegged to one: a Singapore dollar costs ₹76.20 at our selling rate right now.
- Code
- SGD
- Symbol
- S$
- Subunit
- 100 cents
- In use since
- 1967
What is the currency of Singapore?
The currency of Singapore is the Singapore dollar, code SGD, written S$, or just $ inside Singapore. One dollar is divided into 100 cents, and the Monetary Authority of Singapore (MAS) issues the notes and coins. It has been the city-state's own money since 1967, two years after Singapore separated from Malaysia. MAS manages it against an undisclosed basket of currencies instead of pegging it to one, so against the rupee it moves with the rupee's own moves and with MAS policy: on 5 Oct 2026, one Singapore dollar was worth about ₹76.20 at our selling rate. Singapore is one of several countries with a dollar of its own, so this is not the US dollar.
Singapore Dollar at a glance
- Currency
- Singapore dollarThe official currency of Singapore
- Code
- SGDNumeric code 702
- Symbol
- S$, or $ inside SingaporeS$ tells it apart from other dollars
- Subunit
- 1 dollar = 100 cents
- Issuer
- Monetary Authority of SingaporeSince October 2002; the Board of Commissioners of Currency before that
- Introduced
- 1967Replaced the Malaya and British Borneo dollar
- Exchange rate
- Managed against a basketNot pegged to one currency; the basket is not published
- Used in
- SingaporeBrunei pegs its own dollar to it at par
- Banknotes
- $2, $5, $10, $50 and $100Portrait Series, since 9 September 1999; the $1,000 and $10,000 are no longer issued
- Coins
- 5, 10, 20 and 50 cents, and $1Third series, since June 2013; the 1 cent coin is no longer issued
Singapore currency notes and coins
Singapore money comes as five banknotes that are still issued and five coins. The notes are the Portrait Series, launched on 9 September 1999, and every one carries a portrait of Yusof bin Ishak, Singapore's first President, on its front. Only the $2, $5 and $10 are polymer; the $50 and $100 are paper. The $1,000 note (stopped on 1 January 2021) and the $10,000 note (stopped on 1 October 2014) are no longer issued, but MAS says they stay legal tender. Each note is shown with what it costs in rupees at our selling rate today.
- Monetary AuthorityTwo dollarsS$2
Two dollars S$2
≈ ₹152.41 today- Colour
- Purple, polymer
- Front
- Yusof bin Ishak, first President
- Back
- The Education theme: Victoria Bridge School, the old Raffles Institution building and the College of Medicine building
- Monetary AuthorityFive dollarsS$5
Five dollars S$5
≈ ₹381.02 today- Colour
- Green, polymer
- Front
- Yusof bin Ishak, first President
- Back
- The Garden City theme: a 200-year-old tembusu tree in the Singapore Botanic Gardens and the Vanda Miss Joaquim orchid
- Monetary AuthorityTen dollarsS$10
Ten dollars S$10
≈ ₹762.04 today- Colour
- Red, polymer
- Front
- Yusof bin Ishak, first President
- Back
- The Sports theme
- Monetary AuthorityFifty dollarsS$50
Fifty dollars S$50
≈ ₹3,810.19 today- Colour
- Blue, paper
- Front
- Yusof bin Ishak, first President
- Back
- The Arts theme
- Monetary AuthorityOne hundred dollarsS$100
One hundred dollars S$100
≈ ₹7,620.38 today- Colour
- Orange, paper
- Front
- Yusof bin Ishak, first President
- Back
- The Youth theme
Coins, in cents
The third series has circulated since June 2013. The 5 cent coin is gold-coloured and shows the Esplanade; the silver-coloured 10, 20 and 50 cent coins show public housing, Changi Airport and the Port of Singapore; the gold and silver $1 shows the Merlion. The 1 cent coin has not been issued since 1 April 2002.
- 55 cents
≈ ₹3.81 - 1010 cents
≈ ₹7.62 - 2020 cents
≈ ₹15.24 - 5050 cents
≈ ₹38.10 - 11 dollar
≈ ₹76.20
Sources: Monetary Authority of Singapore, banknotes and coins pages; Wikipedia, "Singapore Portrait Series currency notes"; colours as MAS names them. Rupee values at our selling rate, 10:25 AM IST, 5 Oct 2026.
Linked on 21 February 2023
An Indian sender's daily limit when the link opened
India and Singapore, linked by UPI and PayNow
On 21 February 2023 India's UPI and Singapore's PayNow were linked, so people in either country can send money to the other from a bank account or e-wallet with just a mobile number or a UPI ID. It moves money between people. Paying at a Singapore shop with UPI is a newer step, and how far it reaches is not yet confirmed.
UPI and PayNow are linked
The two countries' payment systems are joined in the presence of Prime Ministers Modi and Lee. People send money from a bank account or e-wallet in one country to the other using a mobile number or a UPI ID.
A daily limit
An Indian sender could send up to ₹60,000 a day, which RBI put at about S$1,000. The link moves money between people. It is not a way to pay at a till.
UPI QR for Singapore shops
HitPay and NPCI International announce UPI QR acceptance for Singapore merchants, a newer and separate step. How many shops take it is not confirmed, so bring a card and some cash.
Sources: Reserve Bank of India, press release of 21 February 2023; Prime Minister's Office Singapore, launch of the PayNow and UPI linkage; Outlook Money; Rajah and Tann Asia (the daily limit); Electronic Payments International and FinTech News Singapore (HitPay and NPCI International, March 2025).
Why the Singapore dollar is managed, not pegged
The Singapore dollar is not fixed to any one currency, and MAS does not leave it to float freely either. It steers the exchange rate against a basket of currencies, so the rupee price of a Singapore dollar can move when MAS changes course as well as when the rupee moves.
The exchange rate is the policy tool
Singapore is a small open economy where the exchange rate affects inflation much more than interest rates do, so MAS runs policy through the exchange rate and not through a policy interest rate.
A basket and a band it does not publish
MAS manages the dollar against a trade-weighted basket of currencies, inside a policy band. It does not disclose the basket or the band, and announces only changes to the slope, width or centre.
Four statements a year
Since 2024 MAS has issued four monetary policy statements a year, in January, April, July and October. Each one can change the slope, width or centre, or leave them alone.
One unit in rupees · our selling rate, 5 Oct 2026
The Singapore dollar since 1967
Singapore has had its own dollar for just under sixty years. What changed along the way, in eight entries.
- EntrySingapore
The Singapore dollar arrives
The Board of Commissioners of Currency issues the Singapore dollar in place of the Malaya and British Borneo dollar, two years after Singapore separated from Malaysia. An agreement with Brunei and Malaysia makes the three currencies exchangeable at par.
Launch - EntrySingapore
A floating dollar
The Singapore dollar is floated, and Malaysia leaves the currency agreement. The link with Brunei stays.
- EntrySingapore
The Portrait Series
On 9 September the fourth series of notes is launched, with the portrait of Yusof bin Ishak, Singapore's first President, on the front of every note.
New notes - EntrySingapore
MAS takes over the currency
From 1 April the 1 cent coin is no longer issued. In October the Board of Commissioners of Currency merges into the Monetary Authority of Singapore, which takes over issuing the notes and coins.
- EntrySingapore
The first polymer note
On 4 May the polymer $10 becomes the first polymer note. The $2 follows on 12 January 2006 and the $5 on 18 May 2007.
- EntrySingapore
The $10,000 note stops
On 1 October MAS stops issuing the $10,000 note, announced on 2 July, as a precaution against money laundering and terrorist financing. It stays legal tender.
- EntrySingapore
The $1,000 note stops
On 1 January MAS stops issuing the $1,000 note, for the same reason. The announcement came on 3 November 2020.
- EntrySingapore
UPI meets PayNow
On 21 February India's UPI and Singapore's PayNow are linked, so people can send money between the two countries from a bank account or e-wallet.
India link
Sources: Monetary Authority of Singapore, history of currency, notes, coins, monetary policy and Brunei interchangeability pages; NLB BiblioAsia, "History of the Monetary Authority of Singapore"; Ministry of Finance Singapore, Currency (Amendment) Bill speech, 2002; Malay Mail, Pinsent Masons and Mondovisione on the $10,000 and $1,000 notes; Reserve Bank of India, 21 February 2023; Wikipedia, "Singapore dollar" and "Singapore Portrait Series currency notes".
Singapore dollars and rupees side by side
Worked out at our selling rate at 10:25 AM IST on 5 Oct 2026. For the live rate on any amount, use the SGD to INR or INR to SGD converter.
| You pay | You get |
|---|---|
| ₹10,000 | S$ 131.23 |
| ₹25,000 | S$ 328.07 |
| ₹50,000 | S$ 656.14 |
| ₹1,00,000 | S$ 1,312.27 |
| ₹2,00,000 | S$ 2,624.54 |
| ₹5,00,000 | S$ 6,561.35 |
| You buy | It costs |
|---|---|
| S$ 10 | ₹762.04 |
| S$ 50 | ₹3,810.19 |
| S$ 100 | ₹7,620.38 |
| S$ 500 | ₹38,101.90 |
| S$ 1,000 | ₹76,203.80 |
| S$ 2,000 | ₹1,52,407.60 |
Spending Singapore dollars in Singapore
Three things about Singapore money that help on the first day.
Prices use $, or S$
Inside Singapore prices are written with a plain $, and S$ is used to tell it apart from other dollars, as on Singapore Customs pages. S$12.50 is twelve dollars and fifty cents, about ₹952.55.
S$12.50 = 12 dollars + 50 centsGST is 9 percent, and visitors can claim it back
GST has been 9 percent since 1 January 2024. Visitors aged 16 or over can claim it back on goods from participating shops worth at least S$100 including GST, when they leave by air from Changi or Seletar, at an eTRS kiosk with their passport.
S$100 minimum · claim at the airportTap a card or phone on buses and trains
Bus and MRT fares can be paid by tapping a contactless bank card or phone, under the LTA's SimplyGo system that began on 4 April 2019, so no separate travel card is needed. Ask your bank whether your card works there before you fly.
SimplyGo · since 4 Apr 2019Taking Singapore dollars from India
The Reserve Bank of India's rules apply to every currency, and the Singapore dollar is no exception.
Up to the equivalent of USD 3,000 per trip can leave India as Singapore dollar notes. The rest goes on a forex card or as a bank transfer.
Every resident can send up to USD 250,000 abroad each financial year under the Liberalised Remittance Scheme, travel included.
Tax collected at source applies once your foreign-exchange purchases in a financial year cross ₹10 lakh: nil when an education loan pays, 2% for self-funded education and medical treatment, and 20% for travel and everything else. It is credited against your income tax when you file.
Singapore dollars are on our booking form. Send your amount and the desk confirms your exact rate before anything is booked.
Book Singapore Dollars→Singapore dollar questions
The questions people type about the Singapore dollar, answered in full, in three groups.
The basics
8 questionsWhat is the currency of Singapore?
The currency of Singapore is the Singapore dollar, code SGD, divided into 100 cents. It is issued by the Monetary Authority of Singapore (MAS) and has been the city-state's own money since 1967.
What is the full form of SGD?
SGD stands for Singapore Dollar. SG is Singapore's two-letter country code and D is for dollar, following the ISO 4217 standard, so the SGD full form in currency is Singapore Dollar, and SGD is the Singapore dollar short form. Asked as "SGD meaning currency", the answer is the same, "SGD currency" always means Singapore's money, and its numeric code is 702.
What is the Singapore dollar symbol?
The Singapore dollar symbol is $ inside Singapore and S$ when it has to be told apart from other dollars. MAS's own pages write $2 and $1,000, and Singapore Customs writes S$100, so the Singapore currency symbol goes before the amount.
What is the Singapore currency name?
The Singapore currency name is the dollar, in full the Singapore dollar, and its small change is the cent. It is also called the Singaporean dollar, and the name is sometimes mistyped as singapur currency or singapore dolar, which both mean this dollar.
What is Singapore money called?
Singapore money is called the dollar, in full the Singapore dollar, and its small change is the cent. The money now issued runs from the 5 cent coin to the $100 note, and every note carries the portrait of Yusof bin Ishak, Singapore's first President.
Which country uses the Singapore dollar?
Only Singapore issues the Singapore dollar (SGD). Brunei has its own Brunei dollar, pegged to it at par, and takes the Singapore dollar as customary tender, but the two are separate currencies. The US dollar, Australian dollar, Canadian dollar and New Zealand dollar are different currencies too, so check which dollar a price means.
How many cents make one Singapore dollar?
One Singapore dollar is 100 cents. Coins come in 5, 10, 20 and 50 cents and $1, and the smallest note still issued is the $2. The 1 cent coin has not been issued since 1 April 2002, although it remains legal tender.
Who issues the Singapore dollar?
The Monetary Authority of Singapore (MAS) issues the notes and coins. Until October 2002 the Board of Commissioners of Currency, set up in 1967, issued them, and the merger of the two made MAS a full central bank.
Value and history
6 questionsIs the Singapore dollar pegged to the US dollar?
No, the Singapore dollar is managed against an undisclosed basket of currencies, not fixed to the US dollar. MAS uses the exchange rate rather than an interest rate as its main policy tool, and it announces any change to the slope, width or centre of its policy band four times a year. The dollar was floated in 1973, so against the rupee it moves with the rupee and with MAS policy.
Which Singapore banknotes are in use?
The Portrait Series: $2, $5, $10, $50 and $100, with the $2, $5 and $10 in polymer and the $50 and $100 in paper. The $1,000 note stopped being issued on 1 January 2021 and the $10,000 note on 1 October 2014, and there is no $1 note: the $1 is a coin.
Are old Singapore dollar notes still valid?
Yes, every note and coin issued since 1967 is still legal tender, according to MAS, including the Orchid, Bird and Ship series and commemorative issues. The current Portrait Series began on 9 September 1999, and the two largest notes, the $1,000 and $10,000, are no longer issued but stay legal tender too.
Why did Singapore stop issuing the $1,000 and $10,000 notes?
MAS stopped issuing the $10,000 note from 1 October 2014 and the $1,000 note from 1 January 2021, as a pre-emptive measure against money laundering and terrorist financing risks. Both stay legal tender and can still be spent, MAS says.
Is the Brunei dollar legal tender in Singapore?
No, the Brunei dollar is customary tender in Singapore, not legal tender, so shops are free to refuse it. Under the Currency Interchangeability Agreement of 1967, banks in both countries accept each other's notes and coins and exchange them at par without charge, so a Brunei note in your change can be swapped at a bank.
What is the UPI and PayNow link between India and Singapore?
India's UPI and Singapore's PayNow were linked on 21 February 2023, so people can send money between the two countries from a bank account or e-wallet using a mobile number or a UPI ID. At launch an Indian sender could send up to ₹60,000 a day, which RBI put at about S$1,000. Scanning a UPI QR code at a Singapore shop is a newer, separate step, and how many shops take it is not confirmed.
Buying from India
2 questionsHow much Singapore currency can I take out of India?
Up to the equivalent of USD 3,000 per trip in currency notes. Anything above that goes on a forex card or as a bank transfer, all within the USD 250,000 a year Liberalised Remittance Scheme limit. On the Singapore side, the Singapore Police Force requires a report on physical cash and bearer instruments worth more than S$20,000, or the equivalent in another currency, carried in or out: it is a reporting rule, not a cap.
How do I get Singapore dollars for a trip to Singapore?
Order them before you fly. Matrix Forex, an RBI-authorised Category-II dealer, has Singapore dollars on its booking form: send your amount through the booking bar at the top of this page and the desk confirms your exact rate before anything is booked. For the live rate on any amount, see the SGD to INR converter.