Understanding Singapore Currency as an Intern

10 Nov Understanding Singapore Currency as an Intern

As an intern in Singapore, navigating your new environment means understanding not just the workplace, but also how to manage your finances. This guide will help you get to grips with Singapore’s currency and living costs, so you can make informed financial decisions and enjoy your internship stress-free.

What Is the Currency in Singapore?

The currency you’ll use during your internship in Singapore is the Singaporean Dollar (SGD), commonly seen as S$ or SGD$. Knowing this is essential for handling daily expenses, understanding your stipend’s value, and managing your budget while abroad.

Currency Breakdown: Coins and Notes Interns Should Know

Like most currencies, the Singapore Dollar is broken down into 100 cents. As an intern, you’ll likely deal with small change often, especially at food stalls and convenience stores.

Coins

You’ll commonly use coins like 10¢, 20¢, 50¢, and S$1, especially when buying snacks or paying for MRT fares. Having a coin pouch can save you hassle during your internship.

Banknotes

You’ll mostly handle S$2, S$5, and S$10 notes for daily purchases. Higher denominations like S$50 or S$100 may be used for rent or larger transactions. Keep smaller notes handy for food courts and public transport, key parts of intern life.

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.

How Interns Can Access and Use Money in Singapore

If your internship stipend is transferred internationally, be mindful of ATM fees, some charge up to S$8 per transaction. Look for partner banks or withdraw larger amounts less frequently to reduce fees and make your stipend last longer.

Exchanging Money: Tips for Interns

Exchanging currency in Singapore as an intern? Budget for a S$2–S$3 service fee at most banks. For better rates, consider currency exchange apps or licensed money changers in areas like Raffles Place.

Should Interns Tip in Singapore?

Good news for interns on a budget, tipping isn’t customary in Singapore. Most restaurants include a service charge, so you can save that extra 10% for more important things like transport or groceries.

Living Costs in Singapore for 2025: What Interns Can Expect

Planning your internship budget? Here’s what you can expect to spend in Singapore. Use this list to calculate how far your stipend will go and plan for meals, essentials, and weekend outings:

• • Bottled Water (0.33 liter bottle): Approximately S$1.00–1.50
  • Meal at an Inexpensive Restaurant: Around S$9.00–12.00
  • Combo Meal at McDonald’s or Food at Hawker Centers: Starting from S$7.00–10.00
  • More Pricy Meal (3 courses): Typically around S$40.00–60.00, depending on the restaurant
  • Fruit (good for breakfast): Approximately S$3.00–4.00 for basic portions
  • Bottle of Red Wine: Prices start at around S$30.00 (mid-range brands)
  • Clothes from a Chain Store (Zara, H&M, etc.): Average cost is about S$40.00–50.00
  • Shampoo (500 ml): Approximately S$6.00–10.00, depending on the brand
  • Laundry Detergent (3 liters): Typically around S$12.00 for standard size
  • Visit to the Flower Dome (or Cloud Dome): S$12.00 for single admission (e.g., Flower Dome); S$34–46 for combined attractions for non-residents

Launch Your Internship in Singapore with Confidence

Understanding how to manage your money in Singapore is a vital part of making the most of your internship. From currency tips to budgeting strategies, being financially prepared helps you focus on what really matters in your career journey.

Ready to start your international experience? Absolute Internship offers fully-supported internship programs in Singapore and beyond, with personalized placement, housing, and cultural activities included.

Apply now or explore our Singapore internship programs to take the next step in your global career!

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.