Singapore Currency in Indian Rupees: Exchange Rates for 10 Singapore Dollars

Last updated on October 23rd, 2024 at 04:30 pm

How Much is 1 Singapore Dollar in Rupees?

The highest banknote denomination you can get in the US is a $100 note. What if I tell you that there exists a $10,000 note in Singapore which has been in use since 1967! The Singapore Dollar (SGD) is a highly traded currency in the foreign exchange market. In this article, we will discuss how much 10 Singapore Dollars are in Indian Rupees.

The highest banknote denomination you can get in the US is a $100 note. What if I tell you that there exists a $10,000 note in Singapore which is being used since 1967! It is also a very highly traded currency on the foreign exchange market. Let us have a look at how the currency first came into the limelight, its history and all the coins and banknotes used by the banks of Singapore. In this article we shall discuss singapore 10 dollar in indian rupees

What is the Singapore Dollar?

The Singapore Dollar (SGD) is the official currency of Singapore. The dollar is divided into 100 cents, i.e., 100 cents = 1 dollar. It is denoted by the dollar sign ($) or S$ to distinguish it from other currencies that also use the dollar sign, such as the USD and AUD. All the banknotes and coins are issued by the Monetary Authority of Singapore. The Singapore Dollar is the 13th most traded currency in the world.

Comparing International Currencies: United States Dollar and Canadian Dollar

When discussing currency exchange, it’s also interesting to compare the Singapore Dollar with other major currencies like the United States Dollar (USD) and the Canadian Dollar (CAD). The USD is often considered the world’s primary reserve currency and is widely used in international transactions. On the other hand, the Canadian Dollar, commonly known as the Loonie, is also a significant currency, particularly in trade with the United States. Understanding these comparisons helps provide a broader perspective on how different currencies, including the Singapore Dollar, perform in the global market.

How Much is 10 Singapore Dollar in Indian Rupees?

As per the current exchange rate of SGD & INR on 11 January 2023, then the conversion rate is 61. Which makes 10 dollar in Indian rupees, equivalent to INR 610

History of Singapore Dollar

Singapore established the Board of Commissioners of Currency on 7 April 1967 and issued its first coins and notes. This was shortly after the breakdown of the monetary union between Malaysia and Brunei. Before the currency, Singapore used various currencies like the Straits Dollar, Malayan Dollar, and British Borneo Dollar. Initially pegged to the British Pound, the Singapore Dollar later pegged to the USD before being linked to a basket of currencies. Since 1985, the Monetary Authority of Singapore has allowed the dollar to float within a range of foreign exchange rates to control inflation and support exports. By 2016, the SGD accounted for 1.8% of the daily trade volume. Singapore To INR Calculator

Use this calculator to convert Singapore Dollars to Indian Rupees. Simply enter the amount in SGD you want to convert to INR, and get the result instantly.

How to Convert Singapore Dollars to Indian Rupees and Send Money Safely

When discussing currency conversion, it’s important to understand the process of converting one currency to another and the factors that influence the exchange rates. The currency exchange rates between Singapore Dollar (SGD) and Indian Rupees (INR) fluctuate based on several factors, including economic conditions and market demand. Utilizing a reliable currency converter helps you get the most accurate conversion rates for your transactions.

Additionally, when sending money internationally, understanding the supported currencies and the details required for the transaction, such as the recipient’s account number, ensures a smooth and secure transfer. Most platforms support various currencies for international transfers, making it convenient to send money to friends or family abroad.

Currency Denominations of Singapore dollar

Singapore’s central bank mints coins in the denominations of 5 cents, 10 cents, 20 cents, 50 cents, and one dollar. Although the 1 cent coin was discontinued in 1985, it remains legal tender. Banknotes are issued in the denominations of $2, $5, $10, $50, and $100. Notes of $1, $20, $25, and $500 were discontinued but are still accepted as legal tender. Higher denominations like $1,000 and $10,000 are rarely circulated and are primarily used for intra-governmental transactions.

Coins

The first series of coins, introduced in 1967, was known as the Marine Series and was phased out by 1985. The second series, active from 1985 to 2013, was known as the Floral Series. This series is still in use, except for the 1 cent coin, which was taken out of circulation in 2004. The current series, introduced in 2013, is known as the Iconic Series and features landmarks of Singapore.

The Monetary Authority of Singapore announced a new series of coins which were circulated starting from 2013. These featured the icons and landmarks of Singapore. This is known as the Iconic Series. Here are the details and specifications of these coins.

Banknotes of Singapore dollar

The first series of banknotes, circulated from 1967-1976, was called the Orchid Series. Each note had an orchid in its center, symbolizing the national flower of Singapore. The Bird Series, issued from 1976 to 1984, followed with similar denominations. The third series, the Ship Series, circulated from 1984-1999, depicted various ships significant to Singapore’s maritime history. The current series is the Portrait Series, featuring the face of Singapore’s first President, Yusof bin Ishak. These notes are available in both paper and polymer forms.

The current series is the Portrait Series. These notes feature the face of the first President of the Republic of Singapore, Yusof bin Ishak. The back of these notes is a depict of the civic virtue. These notes are made of paper as well as polymer. Here are the details and specifications of these banknotes.

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