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Currency
The local currency is the Singapore dollar (SGD or S$) and cents. Singapore bank notes are issued in the denominations of 2, 5, 10, 25, 50, 100, 500, 1000 and 10000 Dollars. Coins are in the denominations of S$1, and 50, 20, 10, 5 and 1 cents. However, transaction is rarely done in cents of 1 and 5 denomination. The US and Australian dollars, Yen and British pound are also acceptable, at major shopping centers and restaurants. Currency conversion facilities are available in the airport and railway stations. Exchange rates do fluctuate.
Cards and Travellers' Cheques
Major credit cards are generally acceptable, including American Express, MasterCard, Visa, JCB and Diners Card. NETS is also widely acceptable method, for one can use ATM card for payment. Foreign currencies and travellers' cheques can be changed or encashed at most banks and licensed money changers. Passports are demanded while cashing travellers' cheques and nominal commission is also charged for the transaction. Some banks do not deal in foreign exchange on Saturdays.
If any shopper demands a surcharge on your card, report the errant shop-owner to the respective card company.
Banking Hours
» On Mondays to Fridays: 1000 hrs to 1500 hrs.
» On Saturdays: 0930 hrs to 1300 hrs (some banks provide services until 1500 hrs.)
» Sundays: 0930 hrs to 1500 hrs (some banks in Orchard Road).
Restrictions
No limit on amount of foreign currency brought into or taken outside the country.
