Currency in Singapore
The complete Singapore Dollar (SGD) travel guide
The Singapore Dollar (SGD, written S$ to distinguish from USD) has been Singapore's official currency since 1967. Issued by the Monetary Authority of Singapore (MAS), banknotes come in S$2, S$5, S$10, S$50, S$100, S$1,000, and S$10,000 denominations (the S$10,000 is largely ceremonial); coins in 5¢, 10¢, 20¢, 50¢, and S$1. MAS manages SGD against a trade-weighted basket of currencies (S$NEER) rather than a single peg or pure float — a unique policy framework among G20 economies.
Cash, cards, and ATMs in Singapore
Singapore is overwhelmingly card-friendly — Visa, Mastercard, Amex, NETS (the domestic debit network), and PayNow (mobile) are accepted nearly everywhere. Tap-to-pay limits are typically S$200 without PIN, higher with. ATMs at DBS, OCBC, UOB, and Citibank branches are abundant and most accept foreign cards without per-transaction fees (your home bank may still charge). Cash is rarely necessary but useful at hawker centres (some stalls are NETS or cash only), wet markets, and older taxis. Singapore is one of the safest cities in the world for ATM use — withdraw with confidence.
Tipping culture in Singapore
Tipping is not customary in Singapore. A 10% service charge is added to most sit-down restaurant bills (often goes to the establishment, not staff directly) plus 9% GST, both already included in the listed total. Additional tipping is genuinely uncommon. Taxis: do not tip — round up to the nearest dollar if you choose. Hotels: S$2–5 per bag at international chains. Hawker centres: no tipping. Hairdressers, tour guides, spa therapists: tipping is appreciated at high-end establishments but not expected.
Best way to get Singapore Dollar (SGD)
For USD-to-SGD, the best rates come from multi-currency cards (Wise, Revolut) — typically within 0.4% of mid-market. The Arcade at Raffles Place hosts dozens of money changers ("Mustafa Foreign Exchange" is famous) that offer rates competitive with Wise for cash exchange — comparison-shop across 3–4 booths. Avoid Changi Airport currency-exchange counters — spreads exceed 4–7% above mid-market. For substantial transfers (S$10,000+), Wise, OFX, and DBS Remit (for residents) are competitive; traditional bank wires are typically 1–3% more expensive.
Practical money tips for Singapore
- •Get an EZ-Link card (or use contactless credit card) for all public transport — MRT, buses, and many retailers
- •GST (9% as of 2026) is included in displayed prices in supermarkets and most restaurants
- •Tourist Refund Scheme (TRS) refunds GST on purchases over S$100 from participating retailers — claim at Changi before departure
- •Singapore plug type G (same as UK) with 230V/50Hz — bring an adapter
- •Free Wi-Fi is excellent at Changi airport, MRT stations, libraries, and most cafes
- •Tap water is safe to drink everywhere in Singapore
- •Strict laws apply to common items — no chewing gum (since 1992), heavy fines for smoking in public, eating/drinking on the MRT
Common money scams to avoid in Singapore
Singapore has among the lowest tourist-money fraud rates globally — one of the safest cities in the world for travelers. The main risks are mild: aggressive touts in Little India and Chinatown encouraging "free" gold demonstrations that turn into pressure sales; some Mustafa-area money changers showing the "buy" rate when you're selling (always confirm direction); and "tea ceremony" scams targeting tourists near Chinatown MRT (less common than in mainland China but they exist). Dynamic currency conversion at retail terminals — always pay in SGD if using a foreign card.
Frequently asked questions
Can I use US dollars in Singapore?
No. SGD is the only accepted currency. Some 5-star hotels will accept USD at the front desk but at poor rates. Convert at a money changer at The Arcade (Raffles Place) or use a Wise card.
How much cash should I bring to Singapore?
Very little is needed. With cards working nearly everywhere, S$50–100 for hawker centres and wet markets per visit is more than enough. Withdraw from a bank ATM only if you specifically need cash.
Is Singapore expensive?
Yes — Singapore is one of the most expensive cities in the world for accommodation, alcohol, and cars. Food is the great exception: hawker centres serve excellent meals for S$4–8. Stick to hawkers and public transit, and Singapore can be affordable.
What does MAS's S$NEER policy mean?
The Monetary Authority of Singapore uses the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) as its primary policy tool — managing SGD against a trade-weighted basket of currencies rather than setting interest rates directly. MAS adjusts the slope, midpoint, and width of the band twice a year (April and October).
Is Singapore in the Eurozone or pegged to USD?
Neither. Singapore uses its own currency (SGD) managed against an undisclosed basket of trading partners. The basket likely includes USD, EUR, CNY, MYR, and other major partners, giving SGD smoother movements than free-floating currencies during currency shocks.
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Exchange rates refresh hourly from Frankfurter (European Central Bank reference data). Travel money information was compiled in 2026 and reflects current cash/card culture, tipping norms, and common scam patterns.