Convert SGD to INR: Singapore Dollars to India Rupees, and INR to SGD

Travelling to Singapore from India is a once-in-a-lifetime experience. The country boasts one of the oldest cultures and a rich heritage. The use of currency in Singapore can be traced back to as far as the 6th Century BC. While visiting Singapore can be an enjoyable experience, one of the common challenges tourists face is a currency conversion. In this blog, we will take a look at SGD to INR conversion process, a brief overview of both these currencies, and answer a few common questions about the conversion process.

Overview of SGD(Singapore Dollar)

The SGD is the official currency of Singapore. It is usually denoted by the S$ symbol and comprises 100 cents. The ‘S’ in the symbol is used to differentiate it from the symbol for the American dollar ($). This currency is commonly referred to as ‘Sing’ in the country.

According to reports from 2020, the Singapore Monetary Authority officially owns assets worth S$270 billion, making it one of the strongest currencies and economies in the world. While the general public uses the S$ symbol, the forex market represents the currency using SGD.

Overview of INR(Indian Rupee)

INR is the official currency of India. It is represented by the ₹ symbol and comprises 100 paise. This currency is also unofficially utilised by some other Asian countries like Nepal and Bhutan. This currency superseded the Danish Indian Rupee, introduced in 1845. It is one of the oldest currencies in the world, tracing back to the 6th century. The term ‘rupee’ literally translates to a silver coin.

History of SGD(Singapore Dollar)

Before the SGD was officially introduced as the country’s currency, the people of Singapore used the Malayan Dollar, British Borneo Dollar, and Straits Dollar as currency. Since its introduction, the SGD was valued as equivalent.

The value of 1 SGD was linked to the value of the British Pound. But during the 1970s, the link shifted to S$ and various other currencies till 1985. Post this, the value of the Singapore dollar was allowed to float at an undisclosed range, constantly monitored by the Monetary Authority of Singapore.

The Singapore Dollar was one of the few currencies in the world that demonstrated stability during the Covid-induced financial crisis in 2020. Today, it is the 12th most traded currency in the forex market and stands third in the world.

History of INR(Indian Rupee)

The Indian currency is one of the oldest currencies issued, tracing back to the 6th century. The oldest coins were referred to as punch-marked coins because of the way they were created. As numerous dynasties were formed and collapsed over the following centuries, the currency designs in the country were also subject to change. By the 12th century, a new currency called the Tanka was introduced in the country. The Mughal dynasty introduced a unified monetary system, and the silver coins called Rupaiya were introduced.

The British Government in India introduced a standard silver-based currency on the Rupee in 1825, which was in use till the late 20th century. Owing to the failure of the economy in 1866, the control of paper money was transferred to the British crown. It led to the introduction of the Victoria Portrait banknotes series, which was in use for over 50 years.

Once India gained independence from the British in 1947, the Indian Rupee reclaimed its original design of the silver coin. Other indigenous currencies were taken out of circulation in the economy, and the Indian Rupee was adopted as the main currency of the country.

SGD to INR Forecast For 2022

The table below displays the SGD dollar to INR forecast for 2022, from March to December. In the table, you will see the lowest and highest value predictions of 1 SGD to 1 INR, along with an opening and closing value forecast.

Month andYear	Opening Rate	Closing Rate	Minimum Rate	Maximum Rate	Change
March 2022	55.5318	55.3582	55.2823	55.5373	-0.31 %
April 2022	55.3466	56.0495	55.3466	56.0672	1.25 %
May 2022	56.0406	56.0969	55.9779	56.0969	0.1 %
June 2022	56.1112	56.5532	56.1112	56.5666	0.78 %
July 2022	56.5191	56.4997	56.4068	56.5191	-0.03 %
August 2022	56.537	57.1045	56.537	57.1045	0.99 %
September 2022	57.1206	56.7851	56.7851	57.1769	-0.59 %
October 2022	56.7789	57.0014	56.7649	57.0038	0.39 %
November 2022	57.0216	57.0689	56.9894	57.0802	0.08 %
December 2022	57.0649	57.0052	57.0052	57.0883	-0.1 %

Convert SGD to INR

Before you convert SGD to INR, it is important to learn the value of one Singapore dollar in the Indian rupee. For instance, on 28th January 2022, the SG dollar to rupees exchange rate was ₹55.38.

Take a look at some of the examples to learn how you can manually convert.

Note: We are using the value of SGD to INR today i.e., 28th January 2022.

Example 1: Convert 6.98 SGD to INR