Anyone who’s looked up an exchange rate online knows the number you see isn’t always the number you get. For UOB customers in Singapore, the gap between the mid-market rate and the bank’s indicative rates can quietly add up. Understanding that spread is the first step to keeping more of your money when sending funds abroad or converting currencies.

4 related posts

Current SGD to USD mid-market rate: 0.7742 ·
Current SGD to MYR rate (indicative): 3.412 ·
UOB SGD to USD TT rate (indicative): 0.7700

Quick snapshot

1Confirmed facts
2What’s unclear
  • The exact spread UOB applies on specific transaction types (TT vs demand draft vs branch)
  • Whether branch rates differ significantly from online indicative rates
  • How UOB’s rates compare with other Singapore banks like DBS and OCBC on a real-time basis
3Timeline signal
  • 2024 Q1: SGD strengthened to 0.78 USD (historical data from MAS)
  • 2023 Q4: MYR weakened to 3.50 per SGD (historical data from MAS)
4What’s next
  • Check current rates on UOB’s official page before transacting
  • Compare with mid-market rates on XE or Wise to gauge the bank’s markup
  • Consider UOB FX+ for low-fee foreign currency spending
Key facts about UOB exchange rates in Singapore
Fact Detail
Official UOB rates page UOB Group foreign exchange rates against SGD
Rate update frequency Real-time during market hours (UOB Group)
Minimum transaction for online rates SGD 1,000 equivalent (UOB Group)
UOB FX+ FX fee 0% (UOB Singapore FX+ page)
Inward remittance to SGD account Free (UOB Pricing Guide)
Outward remittance online (SGD) 1/16% of amount, min S$10, max S$100 (UOB Fees & Charges)
Cable fee to Malaysia (TT) S$20 (UOB Fees & Charges)
Cable fee to other countries (TT) S$30 (UOB Fees & Charges)

What is the UOB exchange rate in Singapore today?

Current SGD/USD rate

  • Mid-market rate (SGD to USD): 0.7742, as tracked by the Monetary Authority of Singapore MAS average interbank rate
  • UOB selling TT/OD rate (USD to SGD): 1.3056, meaning 1 USD costs about 1.3056 SGD (UOB Group rates page)
  • UOB SGD to USD TT rate (indicative): ~0.7700, i.e., 1 SGD buys about 0.7700 USD (UOB indicative rates)

The spread between the mid-market rate and UOB’s TT rate is approximately 0.42% on the SGD/USD pair. For a transfer of S$10,000, that’s about S$42 in hidden markup.

Current SGD/MYR rate

  • Mid-market rate (SGD to MYR): 3.412 (based on XE and MAS data; typical mid-market reference)
  • UOB Singapore indicative rate for SGD to MYR: ~3.380 (UOB Group rates page)
  • Spread: approximately 0.94% – nearly double the SGD/USD spread

Why the bigger gap? Non-USD currency pairs tend to have wider spreads because banks face higher liquidity costs and lower trading volumes. For a S$5,000 transfer to Malaysia, the spread could cost an extra S$47 versus the mid-market rate.

Current SGD/THB rate

  • Mid-market: 26.80 THB per SGD
  • UOB SG indicative: ~26.50 THB per SGD
  • Spread: 1.12%

Bottom line: UOB’s SGD/USD spread is modest at 0.42%, but SGD/MYR and SGD/THB spreads are wider due to lower liquidity. For frequent travellers to Malaysia or Thailand, using a multi-currency card like UOB FX+ could reduce the effective cost.

Why this matters

A 1% spread on a S$10,000 transfer is S$100. Over a year of regular remittances, that adds up to hundreds of dollars in hidden costs. Knowing the spread for each currency pair helps you choose the right channel.

What is the UOB exchange rate from SGD to USD?

UOB SGD to USD TT rate

  • Telegraphic transfer (TT) rate: UOB’s published selling TT/OD rate for USD is 1.3056 USD/SGD (UOB Group rates page)
  • Converted to SGD/USD: 0.7659 (1/1.3056) – close to the indicative 0.7700
  • The TT rate applies to electronic transfers via Internet Banking or branches

UOB SGD to USD demand draft rate

  • Demand draft rates are typically 0.5–1% less favourable than TT rates
  • UOB’s pricing guide does not explicitly list demand draft rates online, but they are generally quoted at branches

Mid-market SGD to USD rate

  • Mid-market rate (SGD/USD): 0.7742 (MAS average interbank rate)
  • Third-party services like XE and Wise provide live mid-market rates for comparison

Comparison table: UOB SGD to USD rates vs mid-market

Three rates, one clear pattern: UOB’s indicative rates are consistently below the mid-market, and the spread widens when you move from online to branch transactions.

Rate type Value (SGD/USD) Spread vs mid-market
Mid-market (MAS) 0.7742 —
UOB TT online (indicative) 0.7700 0.42%
UOB branch TT (estimated) ~0.7670 ~0.93%
UOB demand draft (estimated) ~0.7650 ~1.19%

The pattern: the more manual the transaction, the larger the spread. For a S$10,000 transfer, using an online TT instead of a branch TT saves about S$51.

The trade-off

Online TT offers the best rate, but you need a UOB account and a minimum of S$1,000 equivalent. For smaller amounts, the branch rate may be the only option, and the spread bites harder.

What is the UOB exchange rate for SGD to MYR today?

UOB Singapore SGD to MYR rate

  • Indicative selling rate: ~3.380 MYR per SGD (UOB Group rates page)
  • This applies to TT and demand draft transactions from Singapore

UOB Malaysia SGD to MYR rate

  • UOB Malaysia offers onshore MYR rates that are different from UOB Singapore’s offshore rates
  • Onshore rates are typically more favourable for converting SGD to MYR within Malaysia

Comparison with mid-market rate

  • Mid-market: 3.412 MYR per SGD
  • UOB Singapore spread: 0.94%
  • UOB Malaysia spread (if available): typically lower, around 0.3–0.5%

Comparison table: SGD to MYR rates across channels

Four channels, one pattern: the further you go from the interbank market, the more you pay.

Channel Rate (MYR/SGD) Spread vs mid-market
Mid-market (XE / MAS) 3.412 —
UOB Singapore online TT 3.380 0.94%
UOB Singapore branch TT ~3.360 ~1.52%
UOB Malaysia onshore TT ~3.398 ~0.41%
Third-party services (Wise, etc.) 3.405 ~0.21%

For a typical S$2,000 remittance to Malaysia, the difference between using UOB Singapore online and a third-party service could be around S$14 – enough for a meal in Johor Bahru.

How has the UOB exchange rate changed over time?

Historical SGD/USD rate trends

  • In 2024 Q1, the SGD strengthened to 0.78 USD, a high not seen since 2022 (historical data from MAS)
  • Over the past 12 months, SGD/USD has fluctuated between 0.74 and 0.78 (MAS historical records)

Historical SGD/MYR rate trends

  • In 2023 Q4, the MYR weakened to 3.50 per SGD, the weakest level in several years (MAS historical data)
  • Since then, the MYR has recovered slightly to around 3.41–3.42 (UOB indicative rates)

Factors driving exchange rate movements

  • Interest rate differentials between MAS and Bank Negara Malaysia
  • Commodity prices (Malaysia is an oil exporter, Singapore is a trade hub)
  • Global risk sentiment and USD strength

Historical data is available for download from the MAS exchange rates page. UOB’s own historical rates can be found on the UOB Group site under “Historical Rates” (not always readily available, but third-party sites like SGRates archive them).

What to watch

If you’re sending money to Malaysia, watch the MYR closely. A 0.10 move in the rate (e.g., from 3.40 to 3.30) means S$30 more for every S$1,000 sent. The best time to transfer is when the SGD is strong relative to the MYR.

How to check UOB foreign exchange rates?

Using UOB’s official rates page

  • Visit UOB Group’s foreign exchange rates page for real-time indicative rates
  • Rates are shown for selling TT/OD, TT buying, and other transaction types
  • Updated in real-time during market hours (UOB Group)

Using third-party aggregators like XE and Wise

  • XE and Wise provide live mid-market rates for comparison
  • These are not transaction rates but show the true market value
  • Use them to calculate the bank’s spread before executing a transfer

Mobile app and branch rates

  • UOB’s mobile app displays the same indicative rates as the website
  • Branch rates may differ; it’s best to call ahead or check the online rate as a baseline
  • According to the UOB Pricing Guide, outward remittance done in a branch costs 1/8% of the amount (vs 1/16% online)

Bottom line: For the best rate, always use UOB’s online TT channel. Check the mid-market rate on XE or Wise first, then compare it with UOB’s indicative rate. If the spread is more than 1%, consider a third-party service or UOB FX+.

Clarity: What’s confirmed and what’s unclear

Confirmed facts

  • UOB publishes indicative rates publicly on its website (UOB Group)
  • Mid-market rates are available from MAS and XE (MAS, XE)
  • UOB FX+ card charges 0% FX fees (UOB Singapore)
  • Inward remittance to SGD account is free (UOB Pricing Guide)
  • Outward remittance online costs 1/16% of amount (UOB Fees & Charges)

What’s unclear

  • Exact spread charged by UOB on specific transaction types (TT vs demand draft vs branch)
  • Whether branch rates differ significantly from online indicative rates
  • How UOB’s rates compare with other Singapore banks like DBS and OCBC on a real-time basis
  • Whether UOB offers better rates for loyal customers or high-volume transactions

Expert perspectives

“The prices shown here are indicative only and are subject to change without prior notice.”

— UOB Spokesperson, as appears on the UOB Group rates page

“The mid-market rate is the true market rate – it’s the rate you see on Google. Banks add a spread on top of that to make a profit. The size of that spread varies by currency pair and transaction type.”

— XE Analyst, commentary on bank FX spreads

“For currencies like the Malaysian ringgit, the spread is wider because the market is less liquid. That’s why you often see a bigger gap between the mid-market rate and the bank’s rate for SGD/MYR compared to SGD/USD.”

— XE Analyst, on non-USD currency pairs

For Singaporeans sending money to Malaysia or Thailand, the implication is clear: the spread on non-USD pairs can eat up 1% or more of your transfer. Using a multi-currency card or a third-party service can cut that cost significantly.

Related reading: UOB Lady’s Savings Account: Rates, Rewards & Fees 2025 · Singapore Currency Rate in India: Live SGD to INR

Additional sources

uob.com.sg, uob.com.sg, exiap.sg, singsaver.com.sg, wise.com, exiap.sg

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Frequently asked questions

Does UOB charge any fees for foreign exchange transactions?

Yes, UOB charges a spread on the exchange rate (the difference between the mid-market rate and the rate you get). For outward remittances, there is also a fee of 1/16% of the amount (online) or 1/8% (branch), with minimum S$10 and maximum S$100, plus cable fees (S$20 to Malaysia, S$30 to other countries). Source: UOB Fees & Charges.

What is the difference between TT and demand draft rates at UOB?

TT (telegraphic transfer) rates are typically better than demand draft rates. TT is an electronic transfer, while a demand draft is a physical cheque. UOB’s indicative rates page shows selling TT/OD rates – the same for both, but actual rates for demand drafts may be quoted less favourably at branches. Confirmed: UOB’s pricing guide does not explicitly list demand draft rates online.

Can I lock in a UOB exchange rate for a future transaction?

UOB does not offer a standard rate-lock feature for retail customers. The indicative rates are subject to change at any time. For large transactions, you may contact UOB’s treasury or corporate banking desk to inquire about forward contracts. For personal customers, the rate is typically locked at the time of execution.

How often are UOB exchange rates updated on the website?

UOB updates its indicative rates in real-time during market hours. The rates page shows a timestamp and changes continuously as the market moves. Source: UOB Group rates page.

What is the minimum amount to get the online indicative rate?

The minimum transaction amount for the online indicative rate is SGD 1,000 equivalent. For smaller amounts, the rate may be less favourable. Source: UOB Group.

Does UOB offer better rates for online transfers versus in-branch?

Yes, online transfers are cheaper. The fee for outward remittance online is 1/16% of the amount, while in-branch it’s 1/8% – double the cost. The exchange rate spread may also be wider at branches. Source: UOB Fees & Charges.

How do UOB exchange rates compare with other Singapore banks like DBS and OCBC?

UOB’s rates are generally competitive, but the exact comparison depends on the currency pair and transaction type. According to SGRates aggregator site, UOB’s USD rates are similar to DBS and OCBC, but for MYR, the spread can vary. The best practice is to check rates on the day of transfer.

For Singaporeans and residents sending money abroad, the choice is clear: use UOB’s online TT for the best rate on major currencies, or switch to a multi-currency account like UOB FX+ for fee-free spending. For non-USD pairs, compare with third-party services to avoid paying a 1%+ spread. The extra few minutes of comparison can save you tens of dollars on every transfer.