5 Best Money Changers in Singapore: Arcade, Mustafa & People’s Park Complex Money Changers [2022]

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5 Best Money Changers in Singapore: Arcade, Mustafa & People’s Park Complex Money Changers [2022]

Money exchange is important to travelers. However, this is not an issue for visitors to Singapore because our city has a plethora of reputable licensed money changers that provide excellent exchange rates for most currencies.

Registered money changers can be found everywhere from Changi Airport to shopping malls across the country. You can use a service at the airport or the hotel where you are staying for your convenience. However, for the best rates, visit one of Singapore’s Best Money Changer Singapore [updated 2022]. They are Raffles Place’s The Arcade, Orchard Road’s Lucky Plaza, Little India’s Mustafa Centre, Chinatown’s People’s Park Complex, and Marine Parade’s Parkway Parade.

The aforementioned hubs are also well-known tourist attractions in Singapore, and are easily accessible by public transportation. As a result, doing the exchange is very convenient for travelers.

Also, remember to haggle in order to get better exchange rates.

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 1. Arcade Money Changers (Raffles Place)

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Arcade Money Changers is located at Raffles Place, Singapore’s business district. The Arcade has a large number of good money changers that offer competitive rates for various currencies. Exchange rates are displayed on electronic display boards. Most changers have good communication skills in order to provide smooth transactions.

Best Exchange Rate Currencies:

• INR
• IDR
• RMB
• MYR
• CNY
• HKD
• PHP

How to go there:

  • Nearest MRT Station: Raffles Place MRT (EW14) and (NS26) (Walking 1 mins from Exit C here)
  • Bus lines: 10, 10E, 57, 70, 75, 100, 107, 128, 130, 131, 162, 167, 196 and 19 (Walking 2 mins from bus stop B03019)

Recommended Money Changers:

 Sheen International Exchange

  • Good place to exchange JPY, GBP and other currencies
  • Call (65) 6222 2041 for daily rates
  • Located at 11 Collyer Quay #02-04 The Arcade

2. Arcade Plaza Traders Pte Ltd

  • A more than three-decade trustworthy money changer for locals traveling abroad and for tourists visiting Singapore
  • A good place for trading USD, EUR, GBP, and some Asian currencies
  • Call (65) 6227 7660 to check the daily rates
  • Located at 11 Collyer Quay #02-03 The Arcade

3. Arcade Money Changers

  • Located at 11 Collyer Quay #01-18 The Arcade
  • Tel: (65) 6223 0753 / 6220 7241 / 6221 2080
  • Opening hours: Mon – Fri 9:00 18:30, Sat 9:00 to 15:00, Sun/PH: Closed

4. People’s Corner Money Changer

  • Good rates for TWD, NZD, and GBP
  • Located at 11 Collyer Quay #02-07 The Arcade
  • Tel: (65) 6223 3040

5. Hassan & Sons Exchange

  • Good place to exchange JPY, TWD, and THB
  • Call (65) 6535 8742 to check the updated rates
  • Located at 11 Collyer Quay #02-05 The Arcade
  • Opening hours: Mon to Fri 10:00 – 19:30, Sat 10:00 – 16:30

2. Mustafa Money Exchange (Mustafa Centre)

Mustafa Forex Exchange

Mustafa Centre has several money changers, but the most reputable and well-known is Mustafa Foreign Exchange. Mustafa Foreign Exchange is the only place in Singapore that exchanges money at all hours of the day and night. You can haggle for lower prices. However, traveler’s checks are not accepted.

Best Exchange Rate Currencies:

• INR
• IDR
• RMB
• MYR
• CNY
• HKD
• PHP

How to go there:

  • Nearest MRT Station: Farrer Park MRT, (Walking 3 mins from Exit G)
  • Bus lines: 21, 125, and 130 (Walking 4 mins from bus stop B07231)

3. People’s Park Complex Money Changers

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People’s Park Complex, an old building in the heart of Singapore’s Chinatown, is one of our city’s most popular and convenient money exchange locations. Before engaging a service, people can compare exchange rates from shop to shop in the building, which has a number of money changers.

Best Exchange Rate Currencies:

• CNY
• PHP
• THB
• MYR
• HKD

How to go there:

  • Nearest MRT station: Chinatown MRT (NE4), (exit C)
  • Bus lines: 2, 12, 33, 61, 63, 80, 143, 197, 961, 961#, 970, CT18, CT28 and CT (Walking 1 minute from bus stop B05013)

Recommended Money Changers:


1. Crante Money Changer

  • Can be easily recognized by the long queue and the durian pancake shop next to it
  • Located at 1 Park Road #01-28 People’s Park Complex
  • Tel: (65) 6532 5929
  • Opening hours: 09:00 – 21:00

2. Today’s Money Exchange

  • Located at 1 Park Road #01-03 People’s Park Complex
  • Tel: (65) 6222 5844

3. Emerald Money Changer

  • Located at 1 Park Road #01-61 People’s Park Complex
  • Tel: (65) 6438 7897

4. AK Money Changer & Department Store

  • Located at 1 Park Road #01-K95C People’s Park Complex
  • Tel: (65) 6557 0487
  • Opening hours: Mon – Sun 09:30 – 22:00

 

4. Lucky Plaza Money Changers

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Lucky Plaza Money Changers on Orchard Road – Singapore’s shopping belt, money changers at Lucky Plaza are the most convenient options for tourists in the Orchard area. Although there are no electronic display boards showing exchange rates, customers can obtain any information they require from the very helpful and patient staff at each money exchange booth in the building.

Best Exchange Rate Currencies:

  •  PHP
  • THB
  • MYR

How to go there:

  • Nearest MRT Station: Orchard MRT (NS 22), (Walking 2 mins from Exit D)
  • Bus lines: 7, 14E, 16, 65, 106, 111, 123, 175, 502 (Walking 2 mins from bus stop B09048)

Recommended Money Changers:


1. Rabi Trading

  • Being the destination for crew members to exchange money due to good services and exchange rates
  • Located at Lucky Plaza #01 – 37, 304 Orchard Road
  • Tel: (65) 6738 5268
  • Opening hours: Mon to Sun: 09:00 – 19:00

2. Rahiman Trading

  • Best rates for USD, SGD
  • To check updated rates, visit its website at http://rahiman-forex.webs.com/
  • Tel: (65) 6235 7206
  • Located at Lucky Plaza B1-10, 304 Orchard Road
  • Opening hours: Daily from 10:30 to 20:30

3. Fajar Money Changer

  • Good services
  • Call (65) 6235 0989 for updated rates
  • Located at Lucky Plaza #01-82, 304 Orchard Road
  • Opening hours: Daily 10:30 – 19:30

4. True Blue Money Changer

  • Services include money exchange, tailoring, and clothes selling
  • Located at Lucky Plaza #01-14, 304 Orchard Road
  • Tel: (65) 6732 6361
  • Opening hours: Daily from 10:00 – 21:00

5. Europe Fancy Store

  • Good services
  • Located at Lucky Plaza #B1-141, 304 Orchard Road
  • Tel: (65) 6733 3252
  • Opening hours: Mon – Fri 10:00 – 20:30, Sat 13:00 – 18:00, Sun 09:30 – 18:30

TIP: It is recommended to compare rates between money changer shops before involving in a service.

HOW TO GET THERE:

  • Nearest MRT Station: Orchard MRT (NS 22), (Walking 2 mins from Exit D)
  • Bus lines: 7, 14E, 16, 65, 106, 111, 123, 175, 502 (Walking 2 mins from bus stop B09048)

 

5. Parkway Parade Money Changers

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Most of the recommended money changers are available at level 1 of Parkway Parade shopping centre, a six-storey building with approximately 300 shops. These money changers are very feasible for those who are nearby East Coast Park or Katong area.

Best Exchange Rate Currencies:

• THB
• USD
• MYR
• JPY
• HKD

How to go there:

  • Nearest MRT Station: Dakota MRT (CC8) (Walking 30 mins from Exit A)
  • Bus lines: 15, 31, 36, 43, 76, 135, 196, 196E, 197, 853# and 966 (Walking 2 mins from bus stop B92041)

Recommended Money Changers:


1. Yakadir Enterprises

  • Services include money changing and remittance
  • Traveler’s cheques are accepted
  • Located at Marine Parade Rd 80 #01-17 Parkway Parade
  • Tel: (65) 6344 9652 / 6344 9716
  • Open hours: Daily from 10:00 – 21:00

2. Parkway Money Changer

  • Located at Marine Parade Rd #01-14 Parkway Parade
  • Tel: (65) 6345 2673
  • Opening hours: Daily from 09:00 – 21:00

3. Everpeace Money Changer

  • Money changing and remittance
  • Located at Marine Parade Rd # 01 – 15/16 Parkway Parade
  • Tel: (65) 6440 2553
  • Opening hours: Daily from 09:00 – 21:00

4. Sino Money Changer

  • Money changing and remittance
  • Located at Marine Parade Rd # 01 – 01 Parkway Parade
  • Tel: (65) 6344 1064
  • Opening hours: Mon-Sat 10:00 – 21:00, Sun 11:00 – 20:00

Changing money in Singapore is a fascinating exercise?

Yet, as forex rates change in real-time, how can there be any one perfect formula for getting the best exchange rate for your buck? 

Objectively speaking, there isn’t. But you can increase your chances of getting a good exchange rate with the following tips in this article.  

But you also need to ask is it worth going through all the trouble? If you’re exchanging a couple hundred ringgit for a quick trip to JB (when travel restrictions lift), then simply head to your nearest money changer because the time and travel costs to head to the “best” money changer will eat up any savings you might have had. But, if you’re exchanging thousands of dollars for your year-end odyssey in far-flung Scandinavia, a bad exchange rate can set your budget back by hundreds, if not thousands of dollars.

 

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