S$1 to ¥110.10: SGD Hits Record High Against JPY On 31 Oct 23, Time For A Holiday

The Singapore Dollar (SGD) has hit a record high against the Japanese Yen (JPY), with the exchange rate reaching as high as ¥110.10 for every 1 Singapore Dollar on 31 October 2023.

The Japanese Yen (JPY) experienced a decline in value due to the Bank of Japan’s (BoJ) commitment to maintaining an exceptionally accommodative policy to bolster the domestic economy.

For those who are planning a trip to Japan soon, this might be a good time to exchange for some Japanese yen.

When the exchange rate hits 109.66 in October this year, many customers have visited local money changers to stash up on the currency. For those who are own multi-currency travel wallets such as YouTrip or Revolut can take advantage of the favourable exchange rate to do an in-app exchange in real time.

You can get a rate of S$1 = ¥109.96 on Revolut:

If you also use YouTrip to lock in a rate of as high as S$1 = ¥110.10:

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S$1 = 1000 KRW: Singapore dollar hits 13-year high against the Korean won

 

Asian currencies have broadly declined against the buoyant US dollar, sliding to levels not seen since the Asian financial crisis.

Among the worst-hit currencies is the Korean won which extended losses this month, dragged down by the U.S. Federal Reserve’s aggressive monetary tightening. South Korea which is export-dependant also comes under increasing pressure with higher oil prices and a deteriorating trade balance.

On the flip side, the Singapore’s dollar has been resilient against the US dollar. To fight inflation – which is expected to keep rising – the Monetary Authority of Singapore (MAS) allows the Singapore dollar to appreciate against peer currencies. This helps to slow the inflation momentum and ensure price stability thereby driving down the cost of imported good in local currency terms.

The SGD/KRW crossed the 1000 mark on Sep 30, 2022

On Friday, the SGD/KRW went above the 1000 support, a level not seen since March 2009.

According to the CashChanger’s site, one can get a rate of approximately S$1 = 975 KRW at local money changers in Singapore on Friday, Sep, 30, 2022. That’s a good rate if you are planning a travel to South Korea any time soon.

 

 

 

 

 

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Aussie dollar slides to a historical low of S$1.00 = AUD1.25

Australian dollar dives towards a new low against the Singdollar

The Australian dollar has dropped further against the Singapore dollar, pointing towards an all-time low of 1.25, a rate never seen before since September 2001 when it hits 1.18 according to Investing.com.

The AUD has plummeted amid ongoing concern regarding the coronavirus pandemic and could sink further as it takes its toll on the economy.

The historical rates of the SGD/AUD pair from fxtop.com shows it briefly hits 1.18 in 2001 before the AUD started to recover and appreciate against the Singdollar going as high as 0.74:

The Reserve Bank of Australia (RBA) is set to announce measures later today (19 Mar) and could cut interest rates to stimulate growth.

In 2012, S$10,000 can only get you about AUD7,400 — a lot lesser than what the Singdollar is worth today where S$10,000 can get you AUD12,500. It can be good news for those who are planning for a vacation or studying abroad in the Down Under after the pandemic.

Get $250 Cash via PayNow when you apply for the new Citi Cash Back+ Card from 11 – 31 Mar 20

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Australian dollar hits decade low against the Singdollar: S$1.00 = AUD1.11

The Australian dollar has declined against major currencies

The Australian dollar has dropped to its lowest level against the Singapore currency since September 2001.

The Singdollar is worth almost 25 per cent lesser than the Australian dollar in 2012 (SGD/AUD = 0.74), but has now climbed above the AUD amid the ongoing Coronavirus situation.

A search for the SGD/AUD pair on Google shows that the rate has hit 1.11, a rate making overseas travel in Australia cheaper.

The Aussie dollar is weaker this morning after it traded at a low of 1.11757 against the Singapore currency, according to xe.com. The slide could be due to a plunge in the crude oil prices as Saudi Arabia launches a price war against Russia.

Singaporea travellers are getting more value for money due to a weaker Australian dollar and with the favourable exchange rate, studying abroad in Australia would be more affordable.

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