Singapore currency guide: The Singaporean dollar (SGD)

If you’re planning to send money to Singapore or take a trip there soon, this guide covers everything you need to know about Singapore’s currency, the Singaporean dollar (SGD). We’ll explore its history, how it’s used, and local customs like tipping so you can feel confident handling money in Singapore.

What is the currency in Singapore?

Singapore’s official currency is the Singaporean dollar, shown as “SGD” on international exchanges and written as “$” or “S$” to distinguish it from other dollar currencies.

are available in $2, $5, $10, $50, $100, and $500 denominations. Singapore’s currency also features 5-, 10-, 20-, 50-cent, and $1 . While Singapore no longer issues , they’re still legal tender and can be used.

History of the Singaporean dollar

Singapore introduced the SGD in 1967, two years after . At the time, launching its own currency was a key step toward establishing economic independence and building national identity.

Before that, Singapore used the Malaya and British Borneo dollar, a shared currency between Malaysia, Singapore, and Brunei. During the Japanese occupation of Singapore during World War II, the country also briefly used the yen.

Today, the Singapore dollar’s prominence in Asian markets makes it one of the most   in the world. This financial credibility, backed by sound policy and global trust, supports Singapore’s standing as  .

How much is the Singaporean dollar worth?

As of mid-2025, 1 US dollar (USD) is worth about 1.27 SGD. But keep in mind that exchange rates change often based on global market conditions, including inflation, interest rates, and geopolitical factors.

To check the latest rate before sending money or exchanging cash, use a real-time currency converter or the Western Union USD-to-SGD rate tool.

7 tips for exchanging US dollars to Singaporean dollars

Planning to exchange your USD for SGD? These seven tips can help you stretch your money further and avoid common pitfalls.

1. Research and compare exchange rates

Track live exchange rates for a few days before converting your money. Then, research the exchange rates and fees of several different banks, online exchange platforms, and currency kiosks. This helps you spot a fair deal and avoid paying more than you need to.

2. Notify your bank ahead of traveling

Before leaving town, let your banks know you’ll be traveling and using your credit or debit cards abroad. That way, you can dine out and use ATMs without triggering your bank’s fraud alerts.

It’s also a good idea to use debit and credit cards that don’t charge international transaction fees, so you get the best rates when shopping in places that use Singaporean currency.

3. Avoid exchanging money at airports, hotels, and tourist areas

Currency exchange booths at the airport seem convenient, but that quick exchange often comes with a high cost. That’s because tourist areas often charge higher fees and offer less favorable rates.

If you need cash on hand and aren’t sure where to exchange money in Singapore, consider converting at your bank before you travel. A trusted service like Western Union is another option. You’re more likely to get a competitive rate without the tourist markup.

4. Consider commissions and fees

Before swapping US dollars for Singaporean dollars, consider the total cost of the exchange. Some services offer attractive exchange rates but charge high commissions and hidden fees.

Look for a reputable service with upfront pricing, like Western Union, so you know exactly what you’re paying (and what your recipient gets).

5. Opt to be charged in Singaporean currency when withdrawing money from ATMs

A simple hack for saving money on exchange rates is to always opt to be charged in local currency when using an ATM. That means choosing Singaporean dollars over US dollars. Doing this gives you a bank-set midmarket rate and helps avoid dynamic currency conversion, which can make exchanging money more expensive.

Another tip: Always use caution when withdrawing money from an ATM. Even though some criminals may still target tourists.

6. Understand that exchange rates vary depending on the day

The value of Singapore’s money changes daily due to fluctuating exchange rates. Keeping an eye on live rates helps you convert US dollars to Singapore’s currency at the most favorable time.

7. Use reputable exchanges

Look for exchange service providers with strong reputations and built-in security features. A reputable service will also have technology to help protect your money. Western Union, for example, offers Touch ID, transfer tracking, PCI DSS compliance, and data encryption.

Using money in Singapore

Here are a few helpful customs and money-related tips to know before spending in Singapore.

Can you use US dollars in Singapore?

No, the US dollar is not a legal tender in Singapore. Though some duty-free shops or merchants in touristy areas might accept it, it’s best to use the Singapore dollar (SGD).

Tipping etiquette in Singapore

is not customary or expected in Singapore. Most restaurants include a 10% service charge on their bill, which the staff splits. Tipping taxi drivers isn’t expected, though many travelers round their bill to the nearest dollar.

Similarly, tipping is optional in hotels, but tipping housekeepers and bellhops $1 or $2 in Singapore currency is appreciated. It’s also common to tip tour guides if you book a tour or excursion.

Send money to Singapore with Western Union

It’s easy to send Singapore currency to family or friends using the Western Union^® app. Alternatively, your recipient can visit Western Union in person at one of our many agent locations across Singapore.

Explore more currency guides >h2>

If you’re planning more trips abroad soon, check out these guides to learn more about various world currencies.

• Philippines currency guide: the Philippine peso (PHP)
• Japan currency guide: the Japanese yen (JPY)
• Thailand currency guide: the Thai baht (THB)
• Indonesia currency guide: the Indonesian rupiah (IDR)