Current Exchange Rate: SGD 1 = JPY 98.82
As of writing, the exchange rate between Singapore dollar (SGD) and Japanese yen (JPY) is 1 SGD to 98.82 JPY. The Singapore dollar is slightly weaker against the Japanese yen today, as it was trading at 1 SGD to 100.3 JPY yesterday.
Historical Exchange Rate Chart
The following chart shows the historical exchange rates between SGD and JPY over the past year.
As you can see, the exchange rate between SGD and JPY has been relatively stable over the past year, with only minor fluctuations.
Factors Affecting the Exchange Rate
There are a number of factors that can affect the exchange rate between SGD and JPY, including:
- Economic growth in Singapore and Japan
- Interest rates in Singapore and Japan
- Inflation rates in Singapore and Japan
- Currency speculation
How to Get the Best Exchange Rate
If you’re planning to exchange SGD to JPY, there are a few things you can do to get the best exchange rate:
- Compare rates from different banks and money changers
- Consider using a currency converter app
- Avoid exchanging currency at airports or hotels, where rates are typically higher
- Exchange larger amounts of currency, as you’ll usually get a better rate
Common Mistakes to Avoid
When exchanging SGD to JPY, it’s important to avoid the following common mistakes:
- Not comparing rates from different providers
- Exchanging currency at a bank or money changer that charges high fees
- Exchanging small amounts of currency
- Waiting until the last minute to exchange currency
Why the Exchange Rate Matters
The exchange rate between SGD and JPY matters for a number of reasons, including:
- It affects the cost of goods and services between Singapore and Japan
- It affects the value of investments in Singapore and Japan
- It can impact the tourism industry in Singapore and Japan
How the Exchange Rate Benefits Singapore
A strong exchange rate between SGD and JPY can benefit Singapore in a number of ways, including:
- It makes Singaporean goods and services more affordable for Japanese consumers, boosting exports
- It attracts Japanese investment in Singapore, creating jobs and economic growth
- It makes it cheaper for Singaporeans to travel to Japan
How the Exchange Rate Benefits Japan
A weak exchange rate between SGD and JPY can benefit Japan in a number of ways, including:
- It makes Japanese goods and services more affordable for Singaporean consumers, boosting exports
- It attracts Singaporean investment in Japan, creating jobs and economic growth
- It makes it cheaper for Japanese to travel to Singapore
Conclusion
The exchange rate between SGD and JPY is an important factor to consider when doing business or traveling between Singapore and Japan. By understanding the factors that affect the exchange rate and how to get the best rate, you can make informed decisions about your finances.
Tables
Table 1: SGD/JPY Exchange Rates Over the Past Year
| Date | Exchange Rate |
|---|---|
| 2022-01-01 | 1 SGD to 103.8 JPY |
| 2022-04-01 | 1 SGD to 100.8 JPY |
| 2022-07-01 | 1 SGD to 99.5 JPY |
| 2022-10-01 | 1 SGD to 98.2 JPY |
| 2023-01-01 | 1 SGD to 98.82 JPY |
Table 2: Factors Affecting the SGD/JPY Exchange Rate
| Factor | Effect on Exchange Rate |
|---|---|
| Economic growth in Singapore | Positive |
| Economic growth in Japan | Negative |
| Interest rates in Singapore | Positive |
| Interest rates in Japan | Negative |
| Inflation rates in Singapore | Negative |
| Inflation rates in Japan | Positive |
| Currency speculation | Can be positive or negative |
Table 3: How to Get the Best SGD/JPY Exchange Rate
| Tip | Benefits |
|---|---|
| Compare rates from different providers | Can save you money |
| Consider using a currency converter app | Can help you find the best rates |
| Avoid exchanging currency at airports or hotels | Rates are typically higher |
| Exchange larger amounts of currency | Usually get a better rate |
Table 4: Common Mistakes to Avoid When Exchanging SGD/JPY
| Mistake | Consequences |
|---|---|
| Not comparing rates from different providers | Can cost you money |
| Exchanging currency at a bank or money changer that charges high fees | Can reduce your return |
| Exchanging small amounts of currency | May not get the best rate |
| Waiting until the last minute to exchange currency | May have to accept a less favorable rate |
