Singapore

SGD - Singaporean Dollar
Convertible: Yes - Transferable: Yes - Exchange rate regime: floating
Singapore

Type of transactions

FX Spot FX Forward
Delivery date : J; J+1; J+2 Maximum maturity : 12 months
Liquidity: Good Liquidity: Good

EUR/SGD parity: liquidity schedules (GMT)

EUR/SGD parity: liquidity schedules (GMT)

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Monetary Policy

  • The Monetary Authority of Singapore (MAS) serves as a central bank, and has the function of ensuring non-inflationary growth of the Singaporean economy.
  • Price setting method: the exchange rate is is described as "supervised". MAS still controls the evolution of the SGD against a basket of international currencies, whose composition is not public.

Features and highlights

Singapore's currency is one of the only freely convertible and transferable Asian currencies

Regulations

There are no special restrictions on the purchase and sale of SGD.

 

Expert opinion

  • As Singapore is an outward-looking economy, MAS tends to intervene to limit the excessive appreciations of SGD.

Payments in SGD to Singapore

The IBAN format is used in Singapore. Payment instructions must contain:

  • The BIC Code of the beneficiary bank.
  • The full name, address and account number of the beneficiary.
Public holidays 2018 (subject to change)
New Year's Day Jan 1 National Day August 9
Lunar New Year Feb 16-17 Hari Raya Haji August 22
Good Friday March 30 Deepvali Oct. 18
Labour Day May 1 Christmas Day Dec 25
Vesak Day May 29