what currency can i use in singapore

2 min read 05-02-2025

Singapore, a vibrant hub of Asia, welcomes millions of visitors each year. Understanding the local currency is crucial for a smooth and enjoyable trip. This guide will answer your question: What currency can I use in Singapore? And much more!

The Singapore Dollar (SGD) Reigns Supreme

The official currency of Singapore is the Singapore dollar (SGD). You'll see it denoted as SGD or $, and it's subdivided into 100 cents. This is the currency you'll need for most transactions. While some places may accept other currencies, using SGD ensures the best exchange rates and avoids potential complications.

Can I Use Other Currencies in Singapore?

While the SGD is king, you might find some businesses willing to accept other currencies, particularly in tourist-heavy areas. However, be aware of these points:

Exchange Rates: You'll almost certainly receive a less favorable exchange rate than you would at a bank or exchange bureau. You'll likely pay a significant premium.
Acceptance Varies: Acceptance of foreign currencies isn't guaranteed. Many smaller establishments and local businesses will only accept SGD.
Potential for Scams: Be extra cautious when using foreign currency. There is a higher risk of being overcharged or encountering dishonest practices.

Which Currencies Are Sometimes Accepted?

While not widely accepted, you might find some larger hotels, upscale restaurants, and shopping malls willing to accept major international currencies like:

US Dollar (USD): Relatively common, but still not universally accepted.
Euro (EUR): Less common than the USD.
British Pound (GBP): Even less common than the EUR.

It's best to avoid relying on using any currency other than the SGD.

Getting Singapore Dollars (SGD)

Before your trip, it's advisable to exchange some currency for SGD. Here are the best ways to obtain Singapore dollars:

1. Exchange Currency Before You Go

Many banks and currency exchange bureaus offer competitive rates. Compare rates beforehand to get the best deal. Remember to check for any fees associated with the exchange.

2. Exchange at the Airport

Changi Airport in Singapore has numerous exchange bureaus. Convenient, but rates might be slightly less favorable than those found outside the airport.

3. Use ATMs

ATMs are widely available throughout Singapore. Your debit or credit card may allow you to withdraw SGD directly from ATMs; however, confirm with your bank about any associated fees. This is often the most convenient and cost-effective method once you arrive.

4. Credit and Debit Cards

Credit and debit cards (Visa, Mastercard, American Express) are widely accepted in Singapore. This is a great backup, especially if you only need to handle smaller expenses. Always check with your bank beforehand to ensure your card will work in Singapore and to avoid unnecessary foreign transaction fees.

Frequently Asked Questions (FAQs)

Q: Where can I get the best exchange rate for SGD?

A: Generally, banks and reputable exchange bureaus offer the best rates. Comparing rates online before your trip or arriving at the airport is recommended.

Q: Are there any fees associated with using my credit card in Singapore?

A: Yes, some banks charge foreign transaction fees. Contact your bank before your trip to clarify their policies.

Q: Can I use traveler's checks in Singapore?

A: While possible, traveler's checks are less common now. Credit cards and ATMs are generally more convenient and widely accepted.

Conclusion: Stick with SGD for a Smooth Trip

While some establishments may accept other currencies, sticking to the Singapore dollar (SGD) is the easiest and most reliable way to manage your finances in Singapore. Exchange currency before you go, use ATMs upon arrival, and utilize credit cards as a backup for a hassle-free experience in this amazing city-state. Enjoy your trip!