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  • As per RBI norms, the GST is applicable as per travellers.
  • This amount is calculated considering one traveller. You can further add/edit travellers in preconfirmation page which can impact the total amount.
  • You may block foreign currency by paying 2% of total transaction value. This blocked rate will be valid for 2 working days.
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    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above without any threshold limit in a financial year under the Liberalised Remittance Scheme of the Reserve Bank of India.The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
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Singapore Dollar (SGD) - Currency of Singapore

Buying Rate (INR)
Selling Rate (INR)
Remittance Rate (INR)

Buy, Sell or Transfer Singapore Dollar (SGD) in India at the best exchange rates

About Singapore Dollar (SGD)

Introduced after independence, in the year 1967, Singapore Dollar is the official currency of Singapore. Also known as ‘Sing’, this currency is often presented with the symbol S$. The banknotes and coins of Singapore are issued by the Monetary Authority of Singapore. The Singapore dollar is the 12th most traded currency in the world, and the 3rd most in Asia, behind the Japanese yen and the Renmimbi. Very recently, just in 2016, the Singapore dollar accounted for 1.8% of the daily trading volume. Research has it that if all of Singapore's notes and coins in circulation are joined together, they can go round the world 5 times!

Some facts that you ought to know about the singapore currency:

    1. The short name for Singapore currency is SGD.
    2. The nicknames for SGD dollar is NA.
    3. The most repetitively used coins are S$1, 5S¢, 10S¢, 20S¢, 50S¢.
    4. The coin of S$5, 1S¢ is used the least.
    5. The most frequently used banknotes are S$2, S$5, S$10, S$50, S$100, S$1000 and rarely used banknotes are S$20, S$25, S$10000.

History of Singapore Dollar

The Singapore Dollar (SGD) is the official currency of Singapore, and it has a history as dynamic as Singapore itself. Before the Singapore dollar, Singapore was part of the Malaysian Federation, and the currency in use was the Malaysian Dollar. However, in 1965, Singapore became an independent nation, and as a result, it needed its own currency. The first notes and coins were introduced on April 7, 1967, marking the birth of the Singapore Dollar and replacing the Malaysian Ringgit at par. The founding Prime Minister, Lee Kuan Yew, stated the need for Singapore to have its own currency to symbolise "economic independence and sovereignty."

Initially, the Singapore dollar was tied to the British pound at a rate of S$60 to £7. This fixed exchange rate policy aimed to promote price stability and facilitate trade. However, after the pound was devalued in 1967, the Monetary Authority of Singapore (MAS) shifted the peg to a basket of currencies.

In the 1970s, Singapore transitioned to a flexible exchange rate to better suit its growing role as a financial hub. The Singapore Dollar was allowed to float within an undisclosed trading band. This provided the MAS with greater control over monetary policy to respond to economic conditions.

Faced with recession and high inflation in the mid-1980s, the MAS adopted a "managed float" in 1986, whereby the exchange rate was guided by the weighted averages of major trading partners' currencies. When the 1997 Asian Financial Crisis hit, the Singapore Dollar came under speculative attack. In response, the MAS widened the trading band from 2.5% to 5% on either side of a central parity.

Since then, the Singapore Dollar has appreciated significantly against major currencies. To slow its rise, the MAS has pursued a policy of "modest and gradual appreciation" through foreign exchange interventions while allowing market forces to largely determine exchange rates. According to the MAS, this policy has served Singapore well by keeping inflation low while supporting economic growth.

Over 50 years, the Singapore Dollar has evolved in line with the nation's development into a global financial hub. Once pegged to the British pound, the currency is now managed based on a basket of currencies of major trading partners and allowed to float within an undisclosed band. The Singapore Dollar has appreciated strongly, reflecting the economic success of Singapore.

Factors affecting Singapore dollars currency

The exchange rate is a crucial means of measuring a country’s economic stability and health. It also determines how a currency is performing and impacting the nation. Let's understand some of the factors that can affect the Singapore dollar:

1. Inflation Rate:

The inflation rate is one of the most significant factors influencing a country’s currency exchange rate. When a country experiences high inflation, its currency depreciates, while low inflation leads to an appreciation in the currency value. Singapore’s average inflation rate between 1962 and 2016 was 2.69%, with the lowest recorded at negative 3.10% in 1976. High inflation can cause negative impacts such as recession, depression, and high unemployment.

2. Government Budget:

A country’s government budget also influences its currency exchange rate. When a government’s budget surplus expands, the value of its currency becomes more competitive. The Monetary Authority of Singapore (MAS) is the regulatory body responsible for overseeing Singapore’s financial system, with the Central Provident Fund playing a crucial role in supporting MAS interventions.

3. Interest Rate:

The central bank’s interest rates influence the currency exchange rates. Higher interest rates can discourage borrowing behaviour, especially when the economy is overheated. Additionally, an increase in interest rates can lead to higher yields for assets in Singapore Dollars, resulting in an increase in investor demand and currency appreciation.

4. Government Debt:

When a government has debt, it impacts the currency exchange rates. Countries with high levels of public debt are less likely to receive foreign investment and capital, which can lead to a decrease in their currency value. Singapore’s government debt was 105.6% of its GDP in 2015, indicating its ability to repay its debts.

Quick Facts About Singapore Dollar (SGD)

Currency Name Singapore Dollar
Short Name SGD
Nicknames NA
Symbol (s) S$
Unit 1/100, Cent
Frequently Used Coins S$1, 5S¢, 10S¢, 20S¢, 50S¢
Rarely Used Coins S$5, 1S¢
Frequently Used Bank Notes S$2, S$5, S$10, S$50, S$100, S$1000
Rarely Used Bank Notes S$20, S$25, S$10000
Central Bank, Name & Website Monetary Authority of Singapore | www.mas.gov.sg
Nations that unofficially use US Dollar as a Part of their Legal Tender Brunei (similarly Brunei Dollar is accepted in Singapore)

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The Singapore Dollar Currency

The Singapore Dollar is the official currency of the Singapore many travellers from different walks of life exchange the SGD for their travel purpose be it leisure, business, or education. The Singapore Dollar can be carried in many different modes such as currency notes , forex card .
With Thomas Cook forex services one can easily buy or sell the Singapore Dollar currency at their desired price, by following our live forex tool on the website. This tool is available round the clock and the customers can book their desired rate from anywhere, anytime. To make sure that our customers have a delightful experience, we deliver the forex right at their doorstep post completion of the forex process.
Thomas Cook provides its customers with the best Singapore Dollar buying rate. There are several other currencies for which Thomas Cook offers its forex services.
All the currencies are facilitated by us not just in currency notes but also via other products like the forex cards  - one and multiple currencies, and currency notes. Get the best Singapore Dollar rate in India today by clicking on our website and avail the best available offers exclusively for our customers. Customers can even compare the rates offered by other sites and place the order online, as we give the best Singapore Dollar rate today that too delivered right at their doorstep. Our team of experts will ably assist our customers with all the necessary information to ensure that the exchange process is seamless.

Currency Rate Today

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Frequently Asked Questions

How can I get the best SGD rate in India?
We at Thomas Cook provide the best Singapore Dollar rate in India today and even use the most advanced forex data services across the country to serve our customers better. We ensure that our services are as per the customers’ requisition.
Is it necessary to buy Singapore Dollar well before the travel date?
While it is advisable to buy Singapore Dollar at least few days in advance of your travel to avoid any last-minute hassles, it may also depend if a customer might want to wait to get the best Singapore Dollar rate today as per their requisition. However, it wouldn’t necessarily mean that the rates would only get lesser and might even increase than decrease with time.
When can I purchase the Singapore Dollar at the best prices and which documents should I carry?
In order to find out the best rates for Singapore Dollar, we advise customers to keep a track of the live rates in order to understand the fluctuation in rates and thereby make a final decision. We at Thomas Cook provide the best Singapore Dollar price today, so that our customers can have the best experience. It is advisable to buy Singapore Dollar before the travel date. Also, carry your passport, visa and air ticket to follow the KYC norms set by the regulatory bodies.
I need to sell my SGD currency, can I do it online?
Yes, you can do that by just filling a simple form on our website and can even look at the changing Singapore Dollar selling rate in Mumbai. We can help you with the process and also with the transaction.
Need to book Singapore Dollar today at best price. How do I go about it?
You can easily track the rates of the SGD on our website round the clock and provide the best current Singapore Dollar rate in today at quite reasonable rates. Thomas Cook (India) Ltd. (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.

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