One of the most common questions among travellers planning a trip to Singapore from India is which currency to carry to Singapore.

Confused about whether to carry Indian Rupees, US Dollars, or Singapore Dollars for your trip? Here’s a complete currency guide for Indian travellers visiting Singapore.

Also Read: How to Avoid Hidden Fees When Exchanging Currency for Travel

Best Currency to Take to Singapore – Singaporean Dollars

The Singaporean Dollar (SGD) is the official currency of Singapore and is the best currency to bring from India when visiting. 

Using the Singapore Dollar lets you travel in the country without the hassle of finding a foreign exchange counter along the way. 

Can You Use Indian Rupees or US Dollars in Singapore

Yes, you can use Indian Rupees, US Dollars, or Euros at popular tourist spots and luxury hotels in Singapore. But you may not get a good exchange rate. So it is better to use Singapore Dollars (SGD) to avoid any issues.

Is It Better to Buy Singaporean Dollars in India or Singapore?

It is best to exchange money for Singapore Dollars before you go to Singapore, while you are still in India. 

SGD is available with many foreign exchange vendors in India, as it is a high-demand currency. This lets you buy Singapore Dollars at a good price. Also, currency exchange can be expensive at tourist spots in Singapore.

How to Buy Singaporean Dollars in India

Here are the best places to get Singapore currency (SGD) in India, safe and quick:

Option 1: Airport Exchange Counters

Indian and Singaporean airports have kiosks operated by well-known forex vendors. However, the downside is that these vendors charge steep exchange rates and fees because of the high rent at the airports. Since travellers often find themselves in a rush at the last moment, these vendors exploit this situation.

Option 2: Banks

Most Indian banks provide currency exchange services, including for Singaporean Dollars. While banks are reliable providers, they often have higher exchange rates and longer processing durations, since foreign exchange is not their primary service offering.

Option 3: Currency Exchange Stores

You can find currency exchange stores in every city, with several located near you. They often offer great exchange rates. However, be cautious when selecting a store, because some can be fraudulent, offering counterfeit notes. So, always choose RBI-authorised currency exchange stores.

Option 4: Online Forex Aggregators 

These are digital platforms that function as a marketplace for forex, allowing you to find the best service providers near you. ExTravelMoney stands out as one of the few online forex aggregators in India, with a presence all across the country. At extravelmoney.com, you can compare the rates provided by banks and RBI-authorised currency exchange outlets online, all from the convenience of your home, and have the currency delivered to your doorstep, saving both time and money.

Pro Tip: Monitor the mid-market exchange rate, which is the rate shown on Google. This rate represents the midpoint between the buying and selling prices of two currencies at a given time. Understanding this rate will help you evaluate whether the markup (the extra fee charged by service providers) is reasonable.

Check Today’s Interbank Rates

Best Way to Buy Singapore Currency (SGD) Online

Purchase Singaporean Dollars in both cash and forex card form in a 20:80 ratio to make your payments convenient and your wallet lighter. Ensure you buy your forex card and currency while in India, preferably online with ExTravelMoney, to save money, time, and peace of mind.

Currency Cash

• Take cash for payments at counters that do not accept card payments.
  
• As Singapore is a developed country in terms of cashless transactions, you shall only be required to carry 20% of your total trip budget as currency.
  
• This can be used in case of emergency, cab fares or tipping.

Forex Card

• Upload the remaining 80% in a forex card as Singaporean Dollars.
  
• These travel cards offer better exchange rates than currency purchase.
  
• Once the funds in SGD are loaded into the forex card, the exchange rate is locked from further rate fluctuations. You can reload the card multiple times in case of shortage and withdraw the remaining amount post-trip.
  
• You can swipe them at POSs in Singapore and even withdraw cash from ATMs when needed.
  
• Unlike debit and credit cards, multi-currency forex cards charge no currency conversion or international usage charges. Only a meagre amount is charged as an ATM withdrawal fee per withdrawal. This can be controlled by minimising the number of withdrawals and maximising the amount.

Pro Tip: To prevent any last-minute rush, ensure you purchase the necessary forex products at least three days prior to your trip.

Singapore Currency Note Denominations

The denominations circulated in Singapore are SGD 2, SGD 5, SGD 10, SGD 50, SGD 100, SGD 1000, SGD 10000.

The frequently required currency denominations for daily purchases and transactions while in Singapore are small denominations like SGD 2, SGD 5, and SGD 10.

Here are the images of the latest series of notes in circulation:

What to Do With Excess Singaporean Dollars after Singapore Trip

After coming back to India from your journey to Singapore, you can convert your leftover currency into Indian Rupees and cash out your forex card with help from a forex service provider such as ExTravelMoney.

How Much Currency Can You Bring In and Out of Singapore?

The Singapore government allows foreign travellers to bring in and take out cash equivalent of up to SGD 20,000. If you wish to carry more than this limit, you must declare it to the Singapore Police Force by submitting the CBNI Declaration Form online.

Meanwhile, the Indian government permits Indian travellers to carry foreign currency up to an equivalent of USD 3,000 (equivalent to SGD 3,800 approx.) in cash. Upon entering India, Indians can bring in only USD 5,000 (equivalent to AED 6,300 approx) in cash. The remaining currency, up to the LRS limit of USD 250,000, can be loaded onto a Forex card.

Proper currency planning can help you save significantly on your Singapore travel expenses. Purchasing Singapore currency in advance and using a forex card ensures convenience, safety, and cost efficiency. Book your Singapore Dollars online with ExTravelMoney to get competitive rates from RBI-authorised forex stores and doorstep delivery anywhere in India.

Also Read: How to Carry Currency Safely When Travelling Abroad

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