INR to SGD

INR to SGD Currency Conversion – An Overview

The INR to SGD exchange rate facilitates economic transactions between India and Singapore. A rupee to SGD calculator helps determine the number of units of the Singapore Dollars (SGD) that can be bought with one unit of the Indian Rupee (INR). The calculator is used by governments, traders, businessmen and others for numerous purposes.

The exchange rate fluctuates on a daily basis. It is so because multiple domestic and international factors, discussed ahead in the blog, influence the exchange rate. Thus, it becomes imperative for stakeholders to closely monitor the rupee to SGD rate.

Between India and Singapore, the rupee to SGD exchange rate can be used for:

• Travel & Tourism
• Money transfers 
• Investments
• Export-Import Businesses
• Other Purposes

Important Facts About Singapore Dollar (SGD)

The Singapore Dollar is Asia’s third highest traded currency. Let us take a holistic look at Singapore’s official currency – the Singapore Dollar.

Official Name	Singapore Dollar
ISO 4217 Code	SGD
Symbol	$, S$
Introduced in	1967
Governing Body	Monetary Authority of Singapore
Fitch Ratings	AAA
Subunit	Cents, ‘c’
Currency Types	Paper notes and coins
Denominations of SGD notes	$2, $5, $10, $20, $25, $50, $100, $1000, and $10,000
Denominations of SGD coins	1c, 5c, 10c, 20c and 50c $1, $5
SGD in cents	1 SGD = 100 cents
Image	Yusof bin Ishak, Singapore’s First President

Benefits of INR to SGD Online Currency Converter Tools

Digital tools have simplified currency conversions. The rupee to SGD conversion is now accessible to everyone by using these online tools. Check out the top benefits of using Urban Money’s free converter.

Real Time Conversion

Urban Money provides a real-time currency converter. Conversions are made in real time to offer instant results. Any changes in the input value changes the conversion immediately, with no delay in calculation.

Updated Exchange Rates

The converter uses the latest exchange rate to provide precise results to its users. Users can trust the calculator’s results without worrying about market fluctuations.

User Friendly 

The INR to SGD converter has an intuitive interface. All that one has to do is enter the desired value in rupees and the converter will do the job itself.

Historical Rates 

Currency converters also display overviews of the exchange rate for past years. This can help understand the conversion rate’s overall trajectory. 

Assist in Decision Making

Governments and investors can assess market opportunities and risks with the help of digital currency conversion tools. General people can also make better decisions while making international transactions.

Comfortable International Travel

People travelling from India to Singapore can get easy assistance in converting Indian Rupees to Singapore Dollars using this converter. This makes foreign travel easier and more convenient. Further, money can be comfortably transferred to family members and relatives between the two countries with the help of rupee to SGD currency converter. 

Import Export Facilitation

A strong Indian Rupee against the Singapore Dollar implies cheaper imports of goods and services from Singapore for India. Conversely, a weaker Indian currency would make imports from Singapore more expensive. Importers and exporters between the two countries can also adequately assess business risks and profitability using this tool.

List of Factors Affecting INR to SGD Conversion

The exchange rate works according to various domestic and international factors. These factors are highly volatile, leading to frequent fluctuations in the exchange rate. Let’s have a look at these factors.

Demand-Supply

The value of a currency increases or decreases in the international market on the basis of its demand and supply. Simply stated, a higher demand for the Singapore Dollar in India would make it more expensive. Consequently, it will be costlier to make purchases from Singapore. The opposite would happen on a decline in the demand for Singapore Dollar in the Indian market.

Interest Rate

Higher interest rates lead to greater FDI inflow, which further leads to an increase in the value of the domestic currency. Governments, along with their country’s central bank, adjust interest rates to influence their currency’s international purchasing power. 

Inflation

Inflation levels and interest rates are interlinked factors. Broadly speaking, inflation inversely influences a country’s currency. A rise in inflation would reduce the purchasing power of the Indian Rupee in international markets. Consequently, purchases from Singapore become expensive. A decline in inflation will have the opposite effect.

Speculations

Speculation refers to purchasing the Singapore Dollar when it’s weak with an aim to sell it when its value increases. Speculations have a destabilising effect on an exchange rate. 

Geopolitical Factors

The political relationship between the two countries also has considerable influence on the rate. The political climate and economic stability strongly affect a country’s currency. Highly unstable conditions discourage foreign investments from Singapore, weakening the rupee against the dollar. Stable conditions, on the other hand, will have a converse effect. 

1 INR to SGD in The Last 10 Years

Year	1 INR to SGD
2023	0.016 SGD
2022	0.018 SGD
2021	0.018 SGD
2020	0.019 SGD
2019	0.019 SGD
2018	0.021 SGD
2017	0.021 SGD
2016	0.021 SGD
2015	0.022 SGD
2014	0.021 SGD
2013	0.023 SGD

How are Rupee to SGD Rates Determined?

Several elements play a key role in determining the rupee to SGD exchange rate. These include domestic as well as international factors. The conversion rate fluctuates on a daily basis owing to changes in these factors. Therefore, it is imperative that stakeholders closely monitor these fluctuations so as to make informed and wise investment decisions.

Most of these determinants are out of the control of the general public. This is where an online rupee to SGD converter steps in. They ensure that if stakeholders can’t control these rates, they can at least make better decisions with the help of these estimations.