However, when quoted in GBP, the same items would only cost us GBP 194, or about SGD 327.86 (based on the GBP 1 = 1.69 SGD).

In other words, we pay less when we choose to pay in GBP.įor example, if we wanted to buy a pair of Dr Martens boots and a polish cream, it would cost us SGD 437.98. However, on the site, prices quoted in SGD were more than 1.69 times the price that was quoted in GBP. On the day of writing, the GBP/SGD was trading at GBP 1 = 1.69 SGD. If we are familiar with the current foreign exchange rate between GBP and SGD, we would quickly realise that there is a price discrepancy. Once we select that, the prices of products will be quoted to us in the Pound Sterling (GBP) instead of the SGD. Sometimes, this can result in substantial savings.įor example, when we tried shopping on ASOS, a British online fashion and cosmetic retailer, there was an option that allowed us to change our preference to shop in the “United Kingdom” instead of the default option, which is “Singapore.” By doing so, the prices of the items will be quoted in the currency of the country we select. However, some sites may also offer the option for us to choose a different location. This means that the prices of the products we buy will automatically be quoted in SGD. Quite often, the settings will be configured for Singaporean visitors. When we engage in online shopping on an overseas website, the cookies on our laptop may signal to the site that we are based in Singapore. #1 Toggle Between The Options To Pay In Foreign Currencies If you want to get the best exchange rate and save on FX fees for your travel and online spending, here are 4 hacks you need to know and practice. Moreover, the effort may not be worth it, as we may not end up with the best rates. This takes time and also requires handling large sums of physical cash notes.

Some may even hunt around to find money changers that offer them the most competitive exchange rates. Traditionally, to obtain foreign currencies, many would simply head to the money changer to convert their Singapore Dollar (SGD) for the foreign currencies they needed. Many of us living in Singapore use foreign currencies regularly, whether for international travel or making overseas online purchases.

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