The lowdown on the Singapore dollar
Economical Influences on the Singapore dollar Exchange Rate
With roots tracing back to the Spanish dollar, the Singapore dollar has evolved into a currency all of its own. These days it’s usually written as S$ to differentiate it from all other dollar currencies out there.
Between 1845 and 1939 Singapore used the Straits dollar, a currency used across a group of British territories in Southeast Asia known as the Straits Settlements. This was replaced in 1953 by the Malayan dollar before again being replaced by the Malaya and British Borneo dollar. In 1965, Singapore sought independence from Malaysia, putting an end to the common currency used between Malaysia, Singapore and Brunei.
On 7 April 1967, Singapore established the Board of Commissioners of Currency and issued the first independent SGD notes and coins. Until 1973, you could still exchange Malaysian ringgit with the Singapore dollar at the same rate.
Singapore dollar Historical Exchange Rate
There have been frequent fluctuations between the NZD and the SGD over the past 5 years, particularly between early 2014 and mid-2015.1
Back at the end of June 2014 the NZD was converting to around 1.09 SGD, however only a few months later on 8 October 2014 that figure had dropped to 0.99640 SGD.1
The Singapore dollar strengthened against the New Zealand dollar over the following months, and by 19 July 2015 1 NZD was converting to 0.89215 SGD.1.
By late March 2016 the NZD was converting to around 0.91 SGD and around a year later on 29 January 2017 the NZD had gained on the SGD to equal around 1.04064 SGD per 1 NZD.1
The Singapore dollar began to strengthen against the New Zealand dollar, finishing 2017 with an exchange rate of 0.92611 SGD per NZD as of 6 December.1
There were minor fluctuations over the next 12 months, with the NZD trading at around 0.90 SGD on 15 August 2018 and by 24 December 2018 1 NZD was converting to around 0.92 SGD.1
Learn more about the SGD before you travel to Indonesia and create a currency rate alert so we can notify you when it hits the rate you want.
Exchange rates last updated Saturday, 30 May 2020 7:17:47 a.m. NZST. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
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Based on mid-market rates as of 24 December 2018.
*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.