Singapore Guide > Money Exchange in Singapore
Money Exchange in Singapore
The local currency of Singapore is the Singapore dollar(S$) and cents(c). The island issues notes in the denominations of S$2, S$5, S$10, S$50, S$100, S$500, and S$1,000. Much to the surprise of visitors, Singapore also issues the S$10,000 note. Coins also are available in denominations of 1c, 5c, 10c; 20c, 50c, and S$1.
However, smaller denominations coins such as the one cent and 5 cent pieces are very rarely seen. Many stores are seen rounding up or adjusting down to the nearest 10 cents (which is worth about 5 Euro cents or 6 US cents).
It is better to change your currency at your native place itself so that you do not have to rush when you reach Singapore (or any other new place). In case you have not, you can do Changi Airport. Most of banks, hotels and shopping complexes also offer the money changing services. General banking hours in Singapore are Monday to Friday: 10am to 3pm, while on Saturday it is: 9:30am to 1pm (some are open till 3pm). Some banks in Orchard Road keep open from 9:30 am to 3pm on Sundays also.
Most of the banks handle with travellers’ cheques and you have to pay a nominal commission for this service. Always remember to carry your passport when cashing the travelers’ cheques. Many banks in Singapore also offer services to change foreign currencies. If arriving the island city on a Saturday then you have to come prepared as many banks do not deal in foreign exchange on Saturdays.
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