Currency · SGD · S$

Exchange rate of the
Singapore dollar (SGD)

The Singapore dollar is the official currency of the city-state of Singapore and one of the most stable currencies in Asia. Convert it at the real interbank rate, in real time, with a transparent margin from 0.40%.

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SGDISO code · S$
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The Singapore dollar in brief

The essentials about the Singapore dollar (SGD)

The key facts about Asia's great safe-haven currency, and how to convert it at the fair rate.

ISO code SGD, symbol S$

Official currency of the city-state of Singapore, one of Asia's leading financial centres.

Managed by the MAS

The Monetary Authority of Singapore steers the currency through the exchange rate, not through interest rates.

Asia's safe haven

Renowned for its stability, underpinned by a strong current account and a globally strategic port.

Exchange from 0.40% at ibani

A sliding, transparent margin applied to the real rate, with no hidden fees.

Our experts' analysis

The Singapore dollar, a pillar
of Asian finance.

Nicknamed the "Sing" by traders, the Singapore dollar (SGD) is a must-know currency of the Asia-Pacific region. Unlike commodity-linked currencies, it rests on an economy of financial services, international trade and logistics, backed by one of the most strategic ports in the world.

With one of the strongest current accounts on the planet, the SGD has built a reputation as a regional safe haven, showing remarkable stability against turbulence. For Swiss players, following MAS policy and Asia exposure helps anticipate movements in the CHF/SGD pair and optimise foreign exchange operations.

SGD key facts
ISO codeSGD · S$
Central bankMAS
Area of useSingapore
Exchange regimeBand (S$NEER)
Monetary policy

The MAS's unique policy towards the SGD

The Monetary Authority of Singapore (MAS) conducts the monetary policy of the city-state. Its method is fundamentally different from that of the US Federal Reserve or the European Central Bank : it manages the Singapore dollar through the exchange rate rather than through interest rates.

In practice, the MAS relies on two levers :

The exchange rate as an instrument (S$NEER)

The MAS steers the nominal effective exchange rate of the SGD against an undisclosed basket of currencies, corresponding to its main trading partners. The currency floats within a fluctuation band whose slope, width and centre are adjusted according to conditions.

Market interventions

Rather than handling policy rates, the MAS buys or sells currencies to keep the SGD within its band. A strong Singapore dollar limits imported inflation, crucial for a country that imports most of its consumption.

Its decisions, taken at generally half-yearly meetings, are closely watched by the markets : a simple adjustment of the band can move the SGD significantly against other currencies.

History of the Singapore dollar

The currency's key dates

1965

Independence of the city-state

Singapore separates from the Federation of Malaysia and, under the leadership of Lee Kuan Yew, lays the economic and financial foundations of the future Asian dragon.

1967

Birth of the Singapore dollar

The first Singapore dollar is issued, replacing the former Malaya and British Borneo dollar.

1981

Steering through the exchange rate

The MAS introduces its iconic exchange-rate targeting method (S$NEER), abandoning the manipulation of domestic interest rates.

1997-1998

The Asian financial crisis

Although affected, the SGD holds up markedly better than its regional neighbours, cementing its reputation as a safe-haven currency during the Asian crashes.

2008

The global financial crisis

During the subprime turmoil, the MAS injects liquidity and manages the SGD's anchoring to preserve the stability of the financial centre.

Today

Currency of Asia's leading hub

Singapore has risen to become a global leader in wealth management and fintech. The SGD remains a pillar of stability on the Asian foreign exchange chessboard.

Today's rate

Our rates for the Singapore dollar (SGD)

Indicative value for 1 unit, ibani margin included. Click a pair for its detail and history.

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Frequently asked questions

Frequently asked questions about the Singapore dollar (SGD)

Always compare the rate offered with the real interbank rate (mid-market). A specialised online exchange service like ibani starts from this real rate and adds only a transparent margin from 0.40%, with no hidden fees, whereas a bank often applies a much wider spread. Compare with our rate comparison tool.

The Singapore dollar is managed by the Monetary Authority of Singapore (MAS). A rare feature : the MAS steers its monetary policy through the exchange rate rather than through interest rates, letting the SGD move within a fluctuation band against a basket of currencies of its trading partners.

The SGD depends mainly on the MAS's decisions, which adjust the slope, width and centre of its exchange rate band (the S$NEER) at generally half-yearly meetings. Singapore's status as a leading Asian financial centre also makes it a currency perceived as stable and a safe haven in the region.

With ibani, you can convert the Swiss franc (CHF), the euro (EUR), the US dollar (USD) and the pound sterling (GBP) into the Singapore dollar (SGD), at the real interbank rate and with a transparent margin from 0.40%.

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