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Learn about Singapore Currency Singapore Currency: A Comprehensive Guide to the Currency in Singapore
If you’re planning a trip to Singapore, understanding the local currency is essential for a smooth and enjoyable experience. The official currency in Singapore is the Singapore Dollar (SGD).
Whether you’re exploring the futuristic skyline of Marina Bay, enjoying street food at hawker centers, or shopping on Orchard Road, knowing how to use and manage the currency of Singapore will enhance your trip. This guide will help you navigate the Singapore Dollar with ease.
What is the Currency in Singapore?
The Singapore Dollar (SGD) is the official currency in Singapore. Often symbolized as “$” or “S$”, the Singapore Dollar is subdivided into 100 cents.
Singapore’s currency is stable, highly valued, and widely accepted for all types of transactions across the island.
A Brief History of Singapore Currency
The Singapore Dollar was introduced in 1967, replacing the Malaysian and British Borneo Dollar. Today, the currency in Singapore is widely recognised and has become one of the most stable currencies in Asia, reflecting Singapore’s economic strength in finance, technology, and trade.
How to Recognise Singapore Currency Banknotes and Coins
The currency in Singapore is available in both coins and polymer banknotes, with various denominations used for different transactions.
Banknotes:
- 2 Dollar
- 5 Dollar
- 10 Dollar
- 50 Dollar
- 100 Dollar
- 1,000 Dollar
- 10,000 Dollar
Each banknote features notable Singaporean figures, national symbols, and landmarks, celebrating the country’s heritage and progress.
Coins:
- 5, 10, 20, 50 cents coins
- 1 Dollar coin
Coins are commonly used for small purchases, such as local transport, snacks, and items at hawker centers or markets.
Why You Need Singapore Currency During Your Trip
While credit and debit cards are widely accepted across Singapore, the Singapore currency is still essential for smaller transactions, especially at hawker centers and local markets.
Here’s why carrying Singapore currency during your trip is beneficial:
- Cash-Friendly Economy: Although cards are accepted in hotels, malls, and restaurants, smaller businesses, street vendors, and local markets often prefer cash payments.
- Tipping: Tipping is not common in Singapore, but if given, it’s usually done in cash.
- Local Shopping: From food stalls to local shops, having Singapore currency on hand will make transactions easier and faster.
Where to Use Singapore Currency
- Restaurants: Most restaurants in Singapore accept credit cards, but smaller food stalls and hawker centers may prefer cash.
- Public Transport: Local transport, including buses and trains, requires payment in Singapore Dollar unless using a prepaid card.
- Tourist Attractions: Entry fees for museums, parks, and cultural sites are typically paid in Singapore currency, so carrying cash is recommended.
Travel Tips for Managing Currency in Singapore
Here are a few tips to help you effectively manage your currency in Singapore during your travels:
- Carry Small Bills: It’s helpful to carry smaller denominations for daily purchases, as some vendors may not have change for large notes.
- Stay Secure: Singapore is one of the world’s safest countries, but it’s always wise to keep your cash secure in a money belt or hotel safe.