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If you’re planning a trip to Singapore, getting to know the local currency, the Singapore Dollar, will help you feel right at home.
Here’s a guide to everything you need to know about the SGD, from denominations to useful tips on handling money in this vibrant city.
Overview of the Singapore Dollar (SGD)
The Singapore Dollar, abbreviated as SGD and symbolised by S$, is Singapore’s official currency.
It’s the currency you’ll use for everything during your stay, from shopping at Orchard Road to buying snacks at hawker centres.
- Abbreviation: SGD
- Symbol: S$
- Subdivisions: Each dollar is divided into 100 cents, making it easy for both small and large transactions.
Currency Denominations
The Singapore Dollar comes in a range of denominations, including various banknotes and coins. Knowing the options will help you manage your spending with ease.
- Banknotes: Available in S$2, S$5, S$10, S$20, S$50, S$100, S$1,000, and S$10,000 denominations.
- Coins: Issued in 1, 5, 10, 20, and 50 cents, as well as a S$1 coin.
These denominations make it convenient to pay for everything from quick snacks to memorable dining experiences.
Currency Interchangeability with Brunei
A unique feature of the Singapore Dollar is its interchangeability with the Brunei Dollar. Due to a special agreement, SGD and Brunei Dollars are accepted at a one-to-one rate in both countries.
This can be particularly helpful if you’re planning to visit Brunei during your trip.
- Currency Agreement: Allows the Singapore Dollar and Brunei Dollar to be used interchangeably in both countries at the same value.
Exchange Rates and Conversion
Exchange rates for the Singapore Dollar vary, so it’s wise to check the latest rates before exchanging money.
Here’s where you can convert your currency easily:
- ATMs: Widely available throughout Singapore and accept major international cards.
- Currency Exchange Counters: Licensed money changers and banks offer competitive rates; you’ll find these in shopping malls and key areas like Chinatown and Orchard Road.
Keeping some cash in SGD can make day-to-day transactions much smoother.
Using Foreign Currencies in Singapore
The Singapore Dollar is the only currency accepted for transactions in Singapore, so it’s best to convert your money when you arrive.
Foreign currencies are rarely accepted, even in major shopping areas, so having SGD on hand is essential.
- Tip: Convert foreign currency to SGD to avoid any hassle when making purchases or paying for services.
Tips for Handling Currency in Singapore
To make handling money easy during your stay, keep these tips in mind:
- Bring an International Card: Most ATMs accept major cards, making it simple to withdraw SGD.
- Credit Card Usage: Widely accepted in hotels, restaurants, and shops, though small vendors may prefer cash.
- Compare Exchange Rates: Licensed money changers often offer competitive rates; checking rates at different places can help you get the best deal.
Ready to Experience Singapore?
With Singapore Dollars in your pocket, you’re ready to dive into all that this vibrant city has to offer.
From exploring colourful markets to dining at world-class restaurants, having SGD on hand ensures you’re set for a memorable experience.
So, pack your bags, prepare your currency, and get ready to explore the best of Singapore!
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