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Summary
Singapore uses the Singapore Dollar (SGD) as its official currency, and travellers can easily exchange money through banks, authorised money changers, or ATMs. Most places accept cash, cards, digital wallets, and even forex cards, making payments convenient. Since Indian Rupees aren’t accepted for transactions, it’s best to carry or convert your money into SGD before your trip. Using public transport and paying in local currency can also help you save during your stay.
Introduction
Tourists planning a trip to the island nation of Singapore must familiarise themselves with its local currency system to manage expenses smoothly. While flights and hotel bookings are usually settled in advance, daily spending on food, transport, shopping, and attractions requires local currency. Along with financial planning, having reliable travel insurance is essential to protect against unexpected medical emergencies, lost wallets, or travel disruptions.
This guide covers everything you need to know about Singapore currency, how to acquire it, exchange tips, accepted payment methods, and smart ways to save money during your trip.
The official currency of Singapore is the Singapore Dollar (SGD), represented by the symbol S$. It is issued by the Monetary Authority of Singapore (MAS).
1 Singapore Dollar = 100 cents
Did you know? Banknotes such as S$1, S$20, S$25, S$500, S$1000, and S$10,000 are legal tender but rarely used in daily transactions.
Excluding accommodation, the average daily travel cost in Singapore is approximately 200–230 SGD per person.
Travel Tip: Tipping is not mandatory in Singapore, and some places such as airports do not allow staff to accept tips.
Most ATMs dispense S$10 or S$50 notes. Only selected machines provide smaller denominations, so carrying S$2, S$5, and S$10 notes can be helpful.
Travel Tip: Always withdraw or exchange money in SGD to get the mid‐market exchange rate.
Visa, Mastercard, and American Express are widely accepted across Singapore, including public transport.
Still useful for small vendors and backup situations.
Popular e‐wallets include Google Pay, GrabPay, NETSPay, and WeChat Pay.
Pre‐loaded forex cards are a cost‐effective and secure alternative to regular cards.
No, Indian Rupees (INR) are not accepted in Singapore. Tourists must exchange INR to SGD. Some hotels may accept USD or GBP, but exchange rates may not be favourable.
Mustafa Centre near Farrer Park MRT Station is one of the most popular places for INR to SGD exchange.
Understanding how Singapore currency works helps tourists avoid unnecessary charges and manage expenses effectively. While SGD can be acquired after arrival, exchanging currency before the trip is more convenient.
To further protect yourself, it is strongly recommended to have travel insurance to Singapore to cover emergencies such as medical issues, lost belongings, or trip delays.
A well‐planned Singapore trip includes smart currency management and adequate financial protection. Choosing the right international travel insurance ensures peace of mind, allowing you to enjoy your journey without worrying about unforeseen expenses.
Indian residents can carry up to INR 25,000 in Indian currency notes.
Lucky Plaza, The Arcade, Parkway Parade, and Mustafa Centre.
The US Dollar (USD).
1 INR ≈ 0.016 SGD and 1 USD ≈ 1.36 SGD (rates may vary).
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