INR or SGD

ammyb New member

Member since 05 August 2015

ammybNew member06 August 2015 18:19:14

I am very new in these regards. I have two questions

1) I need at least 5000 SGD in Singapore for the first month expense and taking up a residency. My company will provide me lodging for the first month. I do not have SGD at present. Should I carry same amount in INR to Singapore or should I convert the amount here and take SGD to Singapore?

2) My current bank is HDFC, can I convert the INR amount to SGD from them? If not what should be the process?

regards
ammyb

Gravitas ViP

Member since 02 March 2011

GravitasViP06 August 2015 19:01:05

9040

1) Check with your bank what would be the likely charges if you just used your credit/debit card to withdrawn SGD when you are in Singapore.

2) only if they offer currency exchange as part of their services i.e. they have a float of SGD - ASK THEM.

ammyb New member

Member since 05 August 2015

ammybNew member06 August 2015 19:10:46

Thanks Gravitas. Will check with them. Is there any rule if I convert and bring sgd in cash with me?

Gravitas ViP

Member since 02 March 2011

GravitasViP06 August 2015 19:28:52

9040

It looks like you have to declare any amounts of hand carried cash above. S$30,000

Gravitas ViP

Member since 02 March 2011

GravitasViP06 August 2015 19:47:56

9040

Another question is whether the exchange rates in India for INR to SGD are better (bank or money changer) than those offered by Singapore money changers.

beppi Germany/Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany/Singapore Expert07 August 2015 08:16:07

15468

As a general rule, you should change your money into a foreign country's currency IN THAT COUNTRY.
Singapore money changers have excellent rates - compare a few in the upper floors of malls around Raffles Place to get the best value!