Currency in Singapore

10 Nov Currency in Singapore

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.

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$.

The Breakdown:

• S$ 1 = 100¢
• Singapore uses 5¢, 10¢, 20¢, 50¢ and $1 coins
• Notes come in denominations of $2, $5, $10, $50, $500 and $1000.

And if you’re lucky, you’ll even see that Singapore has a $10,000 dollar note.

In terms of getting money, ATMs, which take Visa, American Express, Diners Club, JCB and MasterCard, are located at shopping malls and train stations. You also have the option of going to a bank to change or withdraw money. Exchange rates vary from bank to bank and charge a service fee around S$2-S$3. While you’re in Singapore, you should also follow some customs-like the fact that Singaporeans don’t expect tips. Of course, if you feel your service was just flawlessly executed then you may show your gratitude by tipping. In some places, like restaurants, bars, and hotels, you’ll already be charged a 10% service fee, which is denoted by a “++” (normally on menus).

Sample Prices

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:

1. Bottled water (.33 liter bottle) to keep you hydrated for those hot days –1.12 S$
2. A meal at an inexpensive restaurant – 10.00 S$
3. A combo meal at McDonalds or food at the hawker centers – 7.00 S$
4. And a more pricy meal (3 courses) – give or take 50.00 S$ depending on your appetite
5. Fruit (good for breakfast) – 3.50 S$
6. A bottle of red wine to feel classy – 30.00 S$
7. Clothes from a chain store (Zara, H&M, etc.) – 50.00 S$
8. Shampoo – 8.00 S$
9. Laundry detergent (because you know you need to do laundry eventually) – 9.00 S$
10. To visit the Flower Dome (or Cloud Dome, or any other touristy attraction) – 30.00 S$

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.