Are you a Non-Resident Indian who wants to transfer money to India from Singapore? Alternatively, are you travelling to India for a holiday? Whatever the case, finding the best rates to convert your currency from Singapore Dollar to Indian Rupee, i.e., from SGD to INR, is essential. This way, you can get the best value for your hard-earned money and avoid losses.

However, if you are unsure when it is a good time to convert your currency, this guide might help you understand better.

Factors influencing rates

Multiple factors affect the conversion rates of currencies. So, whether you want to convert Dollar to Rupee, Pound to Rupee, SGD to Rupee, etc., you must be mindful of the following factors:

• Inflation
• Supply and demand of the currency
• Interest rates, as determined by the central banks and governments
• Political stability
• Government debt
• Economic recession
• Trade relations, etc.

Reasons to choose best rate

The exchange rate of currencies can fluctuate heavily. Hence, it is crucial to keep track and get the best value when converting 1SGD into INR due to the following reasons:

• It brings certainty to your finances
• It lets you achieve the best value for your money. This way, you will not have to pay extra when transferring money to your loved ones in India.
• Keeping track lets you make informed decisions and avoid exchange losses.
• If you send money to the country frequently to care for your loved ones or other reasons, keeping track of the currency rate is vital. It will let you determine the transfer costs and budget your finances accordingly.

Best time for conversion

If you are keeping track of the rate for SGD to INR today, you must know that the best time to convert SGD into Rupees is when SGD is at its strongest. It will allow you to get more Indian Rupees for the same funds.

On the other hand, if you are transferring money from India and want to convert INR to SGD, you must do so when INR is at its strongest. This way, you can get the best value for your money. Hence, you should check the rates frequently until you are sure it’s the best time.

How to convert?

When converting Euro to INR, Dollar to INR, SGD to INR, etc., you can easily use a Currency Converter to do so. It is a simple tool that is readily available online. In addition, it lets you find out how much your money in one currency is worth in another.

When using an online Currency Convertor, follow these basic steps:

• Choose the desired currency you want to convert from. You can easily do that using the drop-down menu.
• In the next step, input the amount you wish to convert.
• Then select the currency to want to convert your money to
• Once done, the converter immediately displays the results.