Singapore Currency and Living Costs for Interns

10 Nov Singapore Currency and Living Costs for Interns

You’re young, living in a foreign country, and interning at a prestigious company in Singapore. So what are you going to do with your spare time? Spend money of course.

Singapore Currency Name

In Singapore, the unit of currency is called the Singaporean Dollar, or the Singdollar for short. It’s the 12th most traded currency in the world, so of course it needs its own notation – the symbol for the SGD can be written as S$ or SGD$.

Denominations of Singapore Currency: The Breakdown

S$ 1 = 100¢

Coins

Singapore uses the following coins:

• 5¢
• 10¢
• 20¢
• 50¢
• S$1

Banknotes

The current denominations of banknotes are:

• S$2
• S$5
• S$10
• S$50
• S$100
• S$1,000

Note that the issuance of the S$10,000 note has been stopped since October 2014 due to anti-money laundering measures, and banks no longer recirculate it.

Accessing Money

ATMs in Singapore accept various international cards, including Visa, MasterCard, JCB, and UnionPay. Some banks may charge fees for withdrawals, which can be up to S$8 per transaction.

Currency Exchange Fees

When exchanging currency, banks typically charge a service fee of around S$2-S$3. Exchange rates can vary from bank to bank.

Tipping Customs

In Singapore, tipping is generally not expected as a service charge (usually around 10%) is often included in restaurant bills. However, if you feel that your service was exceptional, leaving a small tip is appreciated. This draft incorporates the necessary updates while maintaining the original structure and content focus.

Cost of Living in Singapore

No one expects you to come to Singapore fully stocked with all the necessities you’ll need for the next month or so. So here’s a quick list that will give you an idea of the average prices of basic necessities and more in Singapore:

• • Bottled Water (0.33 liter bottle): Approximately S$1.12.
  • Meal at an Inexpensive Restaurant: Around S$10.00.
  • Combo Meal at McDonald’s or Food at Hawker Centers: Starting from S$7.00.
  • More Pricy Meal (3 courses): Typically around S$50.00, depending on your appetite.
  • Fruit (good for breakfast): Approximately S$3.50.
  • Bottle of Red Wine: Prices start at around S$30.00.
  • Clothes from a Chain Store (Zara, H&M, etc.): Average cost is about S$50.00.
  • Shampoo: Approximately S$8.00.
  • Laundry Detergent: Typically around S$12.00 for a standard size (3 liters).
  • Visit to the Flower Dome (or Cloud Dome, or any other touristy attraction): Standard admission is about S$12.00 for adults.

To learn more about Singapore, read about the History of Singapore, Climate & Weather in Singapore, What to Wear to Your Internship in Singapore and How to Rock Your Internship in Singapore.