For many travelers, foreign exchange is a determining factor for their international vacation. The current INR to
SGD rate will either compel you to take the trip or give it a pass this year. For the best rates when you convert INR to SGD, trust only Thomas Cook.
Importance of the Singapore Dollar
SGD is the abbreviation that stands for Singapore Dollar. The Singapore Dollar is the official currency of the Republic of Singapore. Singapore is a sovereign island in Southeast Asia. The Singapore Dollar or the SGD is represented as S$ to distinguish it from the other dollar currencies in the forex market. Singapore is one of the important financial centres across the globe. Singapore is one of the most highly urbanized countries in the world with its economy heavily depending on Information Technology, consumer goods, pharmaceuticals, and Financial Services.
Introduction of the Singapore Dollar
From 1845 to 1939 Singapore used the Straits Dollar as its currency. Later came the Malayan Dollar which in the year 1953 was further replaced by the Malaya & British Borneo Dollar. The Malaya and British Borneo Dollar was used by Singapore till the year 1965.
Singapore sought independence in the year 1965. Post-independence the currency came into existence. The first currency notes and coins were minted on 7th April 1967. The printing and circulation of the Singapore Dollar are carried out by the Monetary Authority of Singapore. The Singapore Dollar banknotes denominations are 2, 5, 10, 20, 25, 50, 100, 1000, and 10000 Singapore Dollars. While the coins are minted in the denominations of 1 cent, 5 cents, 10 cents, 20 cents, 50 Cents, 1 SGD, and 5 SGD
Factors that affect the exchange of the Singapore Dollar to INR
All the currencies on the foreign exchange market fluctuate daily. The following are the factors that affect the exchange rate of the Singapore Dollar to INR . Demand and Supply of the currency, the inflation rates prevailing in both countries, the interest rates on investments decided by the central banks of both countries, Public debts and government performance, political stability within the country, the economic health of the nations, Imports and exports of both the nations, the terms of trade between both the countries, etc.
Convert Singapore Dollar to INR Online as per Today's Conversion Rate
Let us understand the conversion of the Singapore Dollar to the Indian Rupee with an example. Mr. Lee has saved 3000 SGD and wants to invest in India. He wants to know the value of 3000 SGD he holds in Indian Rupee.
For converting the SGD to Indian Rupee you can use online foreign currency converters. However, currency conversion is very easy and you can do it by yourself. You only need to know the current foreign currency exchange rate for these two currencies.
Today's Singapore Dollar to Indian Rupee currency exchange rate is 1 SGD = 61.37 INR. This means, that the value of one Singapore Dollar is equivalent to 61.37 Indian Rupees. So, the value of Mr. Lee's 3000 SGD in Indian Rupee is 3000*61.37 = 1,84,106.33 INR. This means that the Singapore dollar is stronger as compared to the Indian Rupee.
Convert Singapore Dollar to INR
We already know the currency conversion of the Singapore Dollar to the Indian currency and the value of 1 Singapore Dollar in Indian Currency. Let us now understand the value of one Indian rupee in the Singapore Dollar. Converting INR to SGD will help in understanding the conversion and make the conversion simple for you if you want to utilize the Indian currency in Singapore. Today's currency conversion rate between INR to SGD is 1 INR = 0.016 SGD. So, 100 Rupees is equivalent to 1.63 SGD.
How are Singapore Dollar-INR Rates Determined?
The Monetary Authority of Singapore determines the currency exchange rate of the Singapore Dollar. The Monetary Authority of Singapore is responsible for ascertaining the value of the Singapore Dollar in the foreign exchange market. While in the case of the Indian Rupee the Reserve Bank of India has the authority to determine the currency exchange rates of the Indian Rupee.
Singapore Dollar and INR Overview
Singapore and India trade closely so foreign exchange between these two countries is always in high demand. Singapore is one of the important financial hubs in the world the currency of Singapore i.e., the SGD is stronger as compared to the Indian Rupee. Today the SGD to INR value is 1 SGD = 61.37 INR. Here is the last 30 days' data of the Singapore Dollar to Indian Rupee exchange rate. High: 61.971 INR, Low: 61.270 INR, Average: 61.645 INR.
Why Singapore?
A global financial center, located in South East Asia, Singapore is known as the ‘Lion City of Asia’. With a blend of cultures and rich history, this city-state makes it to Asia’s hit-list of holiday destinations. A stroll around the Marina Bay in Singapore will enlighten you with a glimpse of its colonial influence. This melting pot of cultures also boasts the world’s most efficient and connected public transport facility. This destination is also known for its lip-smacking street food and budget-friendly shopping. If you are looking for a nearby international trip that doesn’t part you away from your savings, then Singapore is your destination. The official currency of this place is the Singapore Dollar (SGD).
Whether you are visiting Singapore for a leisure trip or a business trip, foreign exchange is unavoidable, yet many travelers leave this for the last minute. In fact, many understand that knowing the value of 1 INR to SGD can help them make a realistic travel plan and ensure that they don’t cross the set budget. Once you know the INR to Singapore Dollar exchange rate, you can also plan your shopping, since Singapore is known as a shopper’s paradise.
It is also advisable to convert INR to SGD in advance in your home country to stay safe from the hassle of finding a reliable forex vendor in Singapore.
At Thomas Cook, we understand the value of an enjoyable vacation and thus do everything that we can to enrich your travelling experience. Not only do we help you find the best deals on flights and hotels, but also offer you with the most competitive INR to SGD exchange rate.
To know the current Singapore currency to INR value, you can either get in touch with our forex experts or visit our 24x7 online currency converter tool. Our experts will help you calculate and understand the value of 1 INR to SGD, thereby eliminating all doubts and queries about forex. Not only in India, even when you are in Singapore, but you can also log on to our website and convert Singapore currency to INR to know the actual price of what you are spending foreign
How to convert INR to SGD? We aim at offering a seamless experience and thus encourage you to buy forex online at Thomas Cook. To do so, all you need to do is log on to the Thomas Cook website, enter the details, and have your forex securely delivered at your doorstep. Alternatively, you can also collect your forex yourself from your nearest Thomas Cook branch.
Our constant efforts and commitment towards you have made us one of the world’s leading and most trusted travel and forex partners. Travellers from across the globe trust us with all their travel and money exchange requirements.
What are you waiting for? Convert your INR to SGD and explore the mind-blowing cities of Singapore, while indulging in some retail and food therapy!
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