Best Money Changers in Singapore — Best Rates List 2026

Key Takeaways

• The Arcade at Raffles Place offers the most competitive rates for major currencies (USD, EUR, GBP, JPY) because dozens of money changers compete under one roof.
• Mustafa Centre is Singapore’s only 24‑hour money changer, perfect for late‑night or early‑morning currency needs, though rates may not always be the absolute best.
• Avoid exchanging at the airport; rates are significantly worse! Instead, check the mid‑market rate online before you go and look for a money changer whose selling rate is within 1–2% of it.
• Online platforms like Wise, YouTrip, Revolut, and Thin Margin offer unparalleled convenience and better rates that often beat physical money changers for travel spending or business transfers.
• Location matters! People’s Park Complex excels for RMB/HKD, Lucky Plaza for PHP, Victoria Street for MYR, and Jurong Gateway for early‑morning exchange in the West.

Whether you’re planning a holiday, sending money overseas, or running a business that deals with foreign currencies, finding the best money changer in Singapore can make a significant difference to your wallet. A difference of just 0.5% of a favourable exchange rate can equate to hundreds of dollars saved.

But with dozens of money changers scattered across the island, how do you know which one offers the best rates in Singapore? This guide breaks down everything you need to know, from the top locations to the key factors that separate a good deal from a bad one.

Understanding Foreign Currency Exchange in Singapore

Singapore is a global financial hub, and its currency exchange market is one of the most competitive in the world. The best Singapore currency exchange outlets operate in a highly competitive environment, which works in your favour: more competition usually means tighter rates.

Money changers buy currency at one rate and sell it at a slightly higher rate. The difference between these two rates—known as the spread—is where their profit lies.

The best money changers offer the narrowest spreads, or a rate as close to the mid-market rate as possible, so you get more foreign currency for each Singapore dollar of yours.

Criteria for Selecting the Best Money Changer in Singapore

Not all money changers are created equal. Before you search for “money changer near me open now”, consider these factors:

• Exchange Rate: Obviously! Compare rates across multiple outlets before committing.
• Availability of Currencies: Some money changers specialise in specific currencies. If you need Philippine pesos or Indonesian rupiah, certain locations are better than others.
• Location and Accessibility: Convenience matters. Whether you’re in the CBD, heartlands, or near transport hubs, knowing where to exchange money in Singapore saves time.
• Opening Hours: Need to exchange money late at night? Look for a 24-hour money changer like Mustafa Centre.
• Transaction Fees: Most money changers don’t charge explicit fees—they build their profit into the exchange rate. However, some may charge a flat fee for small transactions or less common currencies.
• Reputation and Customer Reviews: A money changer with consistently good reviews is usually a safe bet.
• Service Quality: Friendly, efficient service can make the experience much smoother, especially if you’re exchanging large amounts.
• Option for Online Currency Exchange Services: Some providers offer rate booking online, allowing you to lock in a rate before visiting.
• Minimum or Maximum Transaction Limits: Some outlets offer better rates for larger transactions.
• Purpose of currency exchange: Travellers, business owners, and overseas workers all have different needs—choose a money changer that aligns with yours.

How to Find the Best Money Changers in Singapore With the Best Rates?

Finding the best place to exchange money in Singapore requires a bit of homework. Here’s how to do it:

Compare the Offered Rate Against the Mid-market Rate

The mid-market rate (also called the interbank rate) is the true exchange rate you see on Google or XE.com. Money changers never offer this rate—they need to make a profit—but the best ones come very close!

Before heading out, check the mid-market rate for your desired currency, then compare it against the rates quoted by different money changers. The smaller the difference, the better the deal.

Other Tips for Getting the Best Exchange Rates

• Avoid exchanging at the airport unless absolutely necessary. Airport money changers have higher operating costs and offer poorer rates.
• Exchange larger amounts. Many money changers offer better rates for transactions above S$1,000 or S$5,000.
• Check multiple outlets. At locations like The Arcade or People’s Park Complex, rates can vary between shops in the same building.
• Ask for a quote. If you’re exchanging a large sum, politely ask if they can offer a better rate.
• Use online rate booking. Some money changers allow you to reserve a rate online, protecting you from intraday fluctuations.

Best Money Changers in Singapore (2026)

Here are the most popular locations where you can find reliable money changers:

• The Arcade, Raffles Place: Located in Singapore’s financial district, this is widely regarded as the best place for competitive rates, especially for major currencies like USD, EUR, and JPY. Dozens of licensed money changers compete under one roof.
• People’s Park Complex, Chinatown: A centralised hub for exchanging HKD, RMB, USD, EUR, and Southeast Asian currencies. Particularly popular among those sending money to China and Hong Kong.
• Mustafa Centre, Little India: Singapore’s only 24-hour money changer. It’s a lifesaver for late-night or early-morning currency needs. Rates are decent, though not always the absolute best.
• Lucky Plaza, Orchard Road: Popular among tourists and foreign workers, especially for exchanging the Philippine Peso (PHP) and other Southeast Asian currencies. Many outlets specialise in remittances.
• Victoria Street, Bugis Junction: A convenient spot to exchange SGD for MYR, with many buses to Malaysia departing from nearby.
• Paya Lebar MRT: Offers cash-free currency exchange via PayNow—a modern, convenient option for those who prefer not to carry cash.
• Jurong Gateway, Jurong East: Open for early-morning currency exchange, serving residents in the West who need a money changer in Jurong East before work or travel.

In-Depth Comparison of the Best Money Changers in Singapore

Money Changer Breakdown: Main Features, Supported Currencies, and Rates

#1 The Arcade Money Changers

The Arcade is the undisputed champion for competitive rates. With over 20 licensed money changers in one location, you can compare rates easily within minutes. Most outlets offer USD, EUR, GBP, JPY, AUD, and SGD, with many also stocking HKD, MYR, and THB.

• Currencies offered: USD, EUR, GBP, JPY, AUD, HKD, MYR, THB, and more
• Address: 11 Collyer Quay, Singapore 049317 (Raffles Place MRT, Exit C)
• Opening hours (in general): Monday–Friday: 9:30am–6:30pm; Saturday: 9:30am–2:30pm; closed on Sunday

For a detailed list of recommended outlets, check out our upcoming guide on The Arcade money changers.

#2 People’s Park Complex Money Changers

A go-to for those exchanging Chinese yuan or Hong Kong dollars, People’s Park Complex has a cluster of money changers on the ground floor. Many have served the community for decades and offer competitive rates for regional currencies.

• Currencies offered: RMB, HKD, USD, EUR, MYR, THB, IDR, and others
• Address: 1 Park Road, Singapore 059108 (Chinatown MRT, Exit C)
• Opening hours (in general): Monday–Saturday: 9:30am–6:30pm; some open on Sunday

#3 Mustafa Centre Money Changer

Mustafa’s 24-hour money changer is a local institution. While rates may not always beat money changers at The Arcade, the convenience of exchanging money at 3am is unmatched. They handle a wide range of currencies, including less common ones, such as the Pakistani Rupee (PKR), Bangladesh Taka (BDT), South African Rand (ZAR), Danish Krone (DKK) and Norwegian Krone (NOK).

• Currencies offered: Over 30 currencies, including USD, EUR, JPY, MYR, IDR, PHP, INR, and more
• Address: 145 Syed Alwi Road, Singapore 207704 (Farrer Park MRT)
• Opening hours: 24 hours, 7 days a week
• Contact: +65 6419 0505

#4 Lucky Plaza Money Changers

Lucky Plaza is the heart of the Filipino community in Singapore, and it’s unsurprising that its money changers specialise in Philippine peso remittances. Many also offer competitive rates for Indonesian rupiah, Malaysian ringgit, and US dollars.

• Currencies offered: PHP, IDR, MYR, USD, SGD, and others
• Address: 304 Orchard Road, Singapore 238863 (Orchard MRT)
• Opening hours (in general): Monday–Saturday: 10:00am–9:00pm; Sunday: 10:00am–8:00pm

#5 Jurong East Money Changers

For residents in the West, Jurong East offers several reliable money changers. Many open early, making them a convenient Jurong East money changer for travellers catching morning flights.

• Currencies offered: USD, JPY, MYR, THB, AUD, and others
• Address: Jurong Gateway Road, Jurong East MRT area
• Opening hours (in general): 9am–9pm; some open earlier

Online Money Changer Options in Singapore

If you prefer not to handle physical cash, several digital platforms offer competitive rates:

• Airwallex: An all-in-one platform offering a suite of financial tools for global businesses, including low-cost FX & transfers and multi-currency accounts. Provides access to interbank rates for 60+ currencies with transparent low markups and free transfers to 200+ countries via local payment rails. With multi-currency accounts, you can hold and manage global currencies to avoid unnecessary conversion costs.
• Revolut: A digital banking app offering multi-currency cards and accounts. You can hold and exchange 30+ currencies at interbank rates with fair‑use limits. For the Standard plan, this is up to S$5,000 monthly before a 1% fee applies. A 1% weekend fee also applies to all exchanges.
• YouTrip: A popular multi-currency travel wallet that allows you to lock in rates for 12 major currencies and spend in over 150 currencies with zero transaction fees.
• Thin Margin: A local startup that allows you to pre‑order foreign currency online at rates close to wholesale and have it delivered directly to your doorstep in Singapore.
• Wise: Formerly TransferWise, Wise offers a multi-currency account and card that uses the real mid‑market rate with low, transparent fees starting at 0.1%.

Advantages of Online Money Changing

Online platforms offer distinct advantages over traditional brick‑and‑mortar outlets:

1. Convenience: Lock in a rate from your phone or computer, then collect cash at your convenience. Their services are also typically available 24/7.
2. Better rates for larger amounts: Some platforms offer tiered pricing that beats physical money changers for sums above S$5,000.
3. No need to carry large amounts of cash: Transfers are digital, reducing security risks.

24-Hours Money Changer Singapore Overview

While online platforms operate 24/7 for rate locking, physical money changer options are limited in this regard. Mustafa Centre is the only reliable 24-hour option for in-person cash exchange. Some airport money changers may have extended hours, but their rates are typically much less competitive.

Money Changer Near Me Open Now: How to Find

Need to exchange money urgently? Here’s how to find a money changer near you:

1. Use Google Maps: Search “money changer” and filter by “Open now”. The map will show nearby outlets with current operating hours.
2. Check Mustafa Centre: If it’s late at night or early morning, Mustafa Centre is your best bet.
3. Call ahead: If you’re heading to a specific location, call to confirm they’re open and have the currency you need.
4. Consider online options: If you don’t need cash immediately, online platforms like Thin Margin or Revolut offer 24/7 rate locking.

Conclusion

Best Places to Exchange Money in Singapore

For the absolute best rates, The Arcade at Raffles Place remains the top choice. Its concentration of money changers creates fierce competition that benefits consumers.

For Chinese and Hong Kong currencies, People’s Park Complex is hard to beat.

For 24-hour convenience, Mustafa Centre is the only option. And for residents in the West, Jurong East money changer outlets offer reliable service without having to travel to the city centre.

Final Tips for Currency Exchange

• Always compare rates from at least three outlets before exchanging.
• Consider using a multi‑currency card like YouTrip or Wise for travel spending; they often beat the rates at physical money changers.
• If you’re a business owner dealing with international suppliers, explore platforms like Airwallex for better rates on larger volumes.

For personal financial health, understanding how to manage your business finances is equally important. Check out our guides on the reasons for a business loan and business loan interest rates if you’re considering financing for your business. And don’t forget to keep track of your credit standing with our Credit Bureau Report (CBS) Singapore guide while you’re at it!

FAQs About Currency & Cash Exchange in Singapore