Honestly, if you're sending money from Singapore to India right now, you've probably noticed something. The numbers look different than they did even six months ago. Today, the SGD currency to INR rate is hovering around the 70.13 mark. That is a massive jump from where we were in early 2025 when it was struggling to stay above 62 or 63.
If you're an NRI or an expat, this is basically the "golden window" you've been waiting for. But don't just hit "send" on your bank app yet.
Timing is everything. One day you're getting 70.35, the next it's 69.11. That might seem like a small flicker, but on a $5,000 transfer, that's a difference of over 6,000 Rupees. Gone. Just like that. You wouldn't throw a couple of crisp hundred-dollar bills into the Singapore River, so why let the banks take it in hidden margins?
The SGD Currency to INR Surge: What’s Really Moving the Needle?
It’s not just luck. Several heavy-hitting economic factors are pushing the Singapore Dollar higher against the Indian Rupee.
Singapore’s Monetary Authority (MAS) doesn't use interest rates to control the economy like most countries. They use the exchange rate. They’ve been keepin' the SGD on a path of "gradual appreciation" to fight off inflation. Meanwhile, India’s Reserve Bank (RBI) has been trying to keep the Rupee stable, but global oil prices and trade deficits often pull it down.
When the SGD gets stronger and the INR feels the heat of global market volatility, you get these 70+ rates. It's great for senders, but it's kinda stressful if you're trying to catch the absolute peak.
The Fed Factor and Global Jitters
We also have to look at the US Federal Reserve. Whenever the US shakes, everyone else catches a cold. If the US dollar stays strong, it usually pressures the Rupee more than the Singapore Dollar. Why? Because Singapore is seen as a "safe haven" in Asia. Investors flock to the SGD when things get dicey, which keeps the SGD currency to INR rate favorable for those sending money home to India.
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Stop Using Your Local Bank for Remittance
Seriously. Stop.
I know it’s convenient to just use your DBS or OCBC app. It’s right there. You’ve already logged in. But banks are notorious for "lazy pricing." They give you an exchange rate that is usually 1% to 3% worse than the mid-market rate.
The Hidden Markup Trap
If the "real" rate you see on Google is 70.13, your bank might offer you 68.50. They’ll tell you "Zero Fees!" but they’re lying. The fee is tucked inside that lower rate. You're basically paying for their fancy office buildings in Raffles Place.
For a standard $1,000 transfer:
- Mid-market rate: ₹70,130
- Bank rate (68.50): ₹68,500
- Loss: ₹1,630
That’s a few nice dinners at a hawker centre or a decent chunk of a monthly bill in India. Over a year of monthly transfers, you’re losing a small fortune.
The Modern Way: Fintech Specialists
If you want the most bang for your buck with SGD currency to INR, you need to look at the specialists. These guys don't have physical branches, so they pass the savings to you.
Wise (formerly TransferWise) is usually the gold standard here. They use the real mid-market rate—the one you see on XE or Google—and charge a transparent upfront fee. About 50% of their transfers are instant. If you’re in a rush, this is usually the winner.
Instarem is another huge player, especially for the Singapore-India corridor. They were born in Singapore, so they know this route better than anyone. They often have "loyalty points" that can lower your costs even further over time.
Revolut is great if you’re already using their card for daily spending. They offer great rates, but be careful on weekends. They add a small markup when the markets are closed to protect themselves from swings.
What about PayNow to UPI?
This is the "new kid on the block." The MAS and RBI linked PayNow (Singapore) and UPI (India). It’s incredibly cool. You can basically send money to a VPA (Virtual Payment Address) just like you’re paying a friend for lunch.
The catch? It’s usually limited to $1,000 SGD per day. If you’re sending a big chunk for a house down payment or a wedding, this won't cut it. But for small, monthly family support? It’s hard to beat for simplicity.
Common Mistakes People Make with SGD to INR
I’ve seen people wait weeks for the "perfect" rate, only for it to crash. Don't be that person.
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- Waiting for the "Top": If the rate is 70.10 and you're holding out for 70.50, you might wait forever. If the rate is good today, take it. Or at least send half now and half later to "average out" your cost.
- Ignoring the "Fixed vs. Indicative" Rate: Some services show you a rate when you start the transfer but don't actually lock it in until they receive your money. If the Rupee strengthens while your money is in transit, you get less. Look for services that "Lock" the rate for 24-48 hours.
- Falling for "Zero Fee" Marketing: I’ll say it again—if the fee is zero, the exchange rate is probably garbage. Always look at the "Total Amount Received" at the other end. That's the only number that matters.
Is the Rupee Going to Get Stronger?
Nobody has a crystal ball. Honestly.
But if we look at the trajectory, the Indian economy is growing fast. Normally, a growing economy means a stronger currency. However, India imports a lot of oil. If global tensions push oil prices up, the Rupee usually takes a hit.
Singapore, on the other hand, is a fortress. They have zero foreign debt and massive reserves. This suggests that the SGD currency to INR rate will likely stay in a range that favors Singapore-based senders for the foreseeable future. We might see dips back to 67 or 68, but the days of 50-something seem like ancient history.
Actionable Steps for Your Next Transfer
Don't just wing it. If you want to maximize your Indian Rupees, follow this checklist:
- Check the Mid-Market Rate: Open Google and type "SGD to INR" to see the baseline.
- Compare 3 Providers: Check Wise, Instarem, and maybe your bank (just for a laugh).
- Watch for First-Timer Promos: Sites like Remitly often give a "teaser rate" for your first transfer that is actually better than the market rate. Use it once, then move on.
- Avoid Weekend Transfers: Markets are closed. Most providers widen their spreads (meaning worse rates for you) to account for the risk of the market opening much higher or lower on Monday.
- Set up an Alert: Most apps let you set a "Rate Alert." If you don't need the money to arrive today, set an alert for 70.50 and let the app do the watching for you.
At the end of the day, sending money home shouldn't be a gamble. By switching from a traditional bank to a specialized fintech provider and keeping an eye on the 70.00 resistance level, you can ensure that more of your hard-earned Singapore Dollars actually make it to your family in India. Take five minutes to compare today—it’s the easiest money you’ll ever make.