Exchange Rate Calculator Singapore

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padding: 20px;
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border-radius: 8px;
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margin-bottom: 25px;
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.btn-calculate {
display: block;
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background-color: #d63384; /* Orchid/Singapore style color */
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Singapore Currency Converter

Calculate conversions to and from Singapore Dollars (SGD)

// Indicative rates for placeholder purposes (Approximations)
var rates = {
‘SGD_MYR’: 3.51,
‘SGD_USD’: 0.74,
‘USD_SGD’: 1.35,
‘SGD_JPY’: 112.50,
‘SGD_CNY’: 5.35,
‘SGD_EUR’: 0.69,
‘SGD_GBP’: 0.59,
‘SGD_THB’: 26.50
};
function updateRatePlaceholder() {
var pair = document.getElementById(‘currencyPair’).value;
var rateInput = document.getElementById(‘exchangeRate’);
var helperText = document.getElementById(‘rateHelperText’);
if (pair !== ‘custom’ && rates[pair]) {
rateInput.value = rates[pair];
helperText.innerHTML = “Pre-filled with estimated market rate. Please update with your actual quote.“;
} else {
rateInput.value = ”;
helperText.innerHTML = “Enter the rate offered by your bank or money changer.”;
}
}
function calculateConversion() {
var amount = parseFloat(document.getElementById(‘convertAmount’).value);
var rate = parseFloat(document.getElementById(‘exchangeRate’).value);
var pair = document.getElementById(‘currencyPair’).value;
var resultBox = document.getElementById(‘resultBox’);
var finalAmountDisplay = document.getElementById(‘finalAmount’);
var summaryDisplay = document.getElementById(‘conversionSummary’);
// Validation
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount to convert.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid positive exchange rate.");
return;
}
// Calculation
var convertedTotal = amount * rate;
// Determine formatting based on currency logic
// JPY usually has no decimals or fewer decimals, others usually 2
var decimals = 2;
if (pair === 'SGD_JPY') {
decimals = 0;
}
// Determine Currency Labels for display
var sourceLabel = "Source Currency";
var targetLabel = "Target Currency";
if (pair === 'SGD_MYR') { sourceLabel = "SGD"; targetLabel = "MYR"; }
else if (pair === 'SGD_USD') { sourceLabel = "SGD"; targetLabel = "USD"; }
else if (pair === 'USD_SGD') { sourceLabel = "USD"; targetLabel = "SGD"; }
else if (pair === 'SGD_JPY') { sourceLabel = "SGD"; targetLabel = "JPY"; }
else if (pair === 'SGD_CNY') { sourceLabel = "SGD"; targetLabel = "CNY"; }
else if (pair === 'SGD_EUR') { sourceLabel = "SGD"; targetLabel = "EUR"; }
else if (pair === 'SGD_GBP') { sourceLabel = "SGD"; targetLabel = "GBP"; }
else if (pair === 'SGD_THB') { sourceLabel = "SGD"; targetLabel = "THB"; }
// Display Results
resultBox.style.display = 'block';
finalAmountDisplay.innerHTML = convertedTotal.toLocaleString('en-SG', { minimumFractionDigits: decimals, maximumFractionDigits: decimals }) + " ” + targetLabel + ““;
summaryDisplay.innerHTML = “Exchanging ” + amount.toLocaleString() + ” ” + sourceLabel + “ at a rate of ” + rate + ““;
}

Using the Exchange Rate Calculator in Singapore

Whether you are planning a weekend trip to Johor Bahru, a holiday in Japan, or remitting money overseas, understanding the exchange rate is crucial for managing your finances in Singapore. This calculator helps you determine exactly how much foreign currency you will receive based on the Singapore Dollar (SGD) amount you wish to exchange, or vice versa.

Common Singapore Dollar (SGD) Currency Pairs

Living in Singapore, the most frequently traded currency pairs include:

• SGD to MYR (Malaysian Ringgit): Essential for cross-border travel to JB or Kuala Lumpur. The exchange rate here fluctuates often and is closely watched by Singaporeans.
• SGD to USD (United States Dollar): The global standard for online purchases and international investments.
• USD to SGD: Common for expats receiving salary in USD or converting investment returns back to local currency.
• SGD to JPY (Japanese Yen): A popular holiday destination currency for Singaporeans.
• SGD to CNY (Chinese Yuan): Vital for business transactions and remittances to China.

Interpreting the Exchange Rate

The exchange rate represents the value of one currency for the purpose of conversion to another. For example, if the SGD/MYR rate is 3.50, it means that for every 1 Singapore Dollar you exchange, you will receive 3.50 Malaysian Ringgit.

When using this calculator:

1. Enter the Amount: Input the total cash you intend to change.
2. Input the Rate: Look at the board at the money changer or your bank app. There will be a “Buy” and “Sell” column. If you have SGD and want Foreign Currency, you are “Selling” SGD (or the money changer is “Selling” the foreign currency to you). Ensure you pick the rate that applies to your direction of trade.
3. Calculate: The tool multiplies your amount by the rate to give you the final total.

Where to Get the Best Rates in Singapore?

Singapore is famous for its competitive money changers. While banks offer convenience, specialized money changers often offer better rates for cash exchanges. Popular locations include:

• The Arcade at Raffles Place: Known for competitive rates for USD, EUR, GBP, and JPY.
• Mustafa Centre (Little India): Open late and known for carrying a vast variety of currencies, including INR and BDT.
• People’s Park Complex (Chinatown): A hub for exchanging SGD to CNY (RMB).
• Lucky Plaza (Orchard): Often visited for SGD to PHP (Peso) exchanges.

Factors Affecting the SGD Rate

The Monetary Authority of Singapore (MAS) manages the Singapore Dollar against a trade-weighted basket of currencies from Singapore’s major trading partners and competitors. Unlike many central banks that use interest rates to manage the economy, MAS uses the exchange rate as its primary tool. This policy ensures that the SGD remains relatively stable, protecting the purchasing power of Singaporeans against imported inflation.