For Singaporeans, currency movements quietly decide whether a holiday feels like a splurge or a steal. That is the upside of holding one of the world’s strongest currencies.
You might not feel it when you are booking flights online. But once you land, exchange rates start to shape every small decision. Which hotel feels reasonable. Whether that extra coffee is a treat or an afterthought. How carefree you feel ordering a second helping of ramen.
Over the past year, the story has not been one-sided. Some regional currencies have actually strengthened against the Singapore dollar. The clearest example is the Malaysian ringgit, which has risen by about 4.5 per cent against the SGD over the last 12 months.
That shift matters more than it sounds. Those familiar weekend trips across the Causeway no longer feel like the automatic “cheap and cheerful” option they once were. Meals, shopping and hotels still cost less than back home, but the gap has narrowed enough for travellers to notice.
The good news is that the opposite has happened elsewhere in Asia. Several currencies have weakened against the Singapore dollar, quietly making their countries much better value than they were a year ago. For travellers, this means the same holiday budget now buys better hotels, nicer meals or simply more room to enjoy the trip without watching every dollar.
With that in mind, here are five currencies that have performed poorly against the Singapore dollar over the past 12 months, and why their countries are shaping up to be especially attractive travel destinations right now.
#1 Japanese Yen – Down 7.4% Vs SGD (1 SGD = 121 JPY)
It’s no surprise that the Japanese Yen appears on this list. It has been both one of the weakest major currencies against the Singapore dollar over the past year and a massively popular travel destination.
To be fair, Japan has always been popular with Singaporeans, but the currency weakness has created a rare, sweet spot: a high-quality destination that suddenly feels far more affordable across accommodation, dining, transport, and shopping. Hotel rooms in cities like Tokyo, Kyoto, and Osaka now cost noticeably less in SGD terms than they did a year ago, even as Japanese service standards remain world-class.
The same goes for dining out, which feels almost indulgent given the quality and value of the food in Japan.
What makes Japan particularly compelling is that currency weakness does not dilute the travel experience, which continues to attract many Singaporeans given its unique mix of culture, excellent service and world-class dining.
#2 Korean Won – Down 8.1% Vs SGD (1 SGD = 1131 KRW)
Historically, the Korean Won (KRW) has always traded at below the 1 SGD to 1,000 KRW level. However, the KRW has also weakened meaningfully against the SGD over the past 12 months, falling by around 8.1%. That shift has made it much more compelling, on an SGD cost basis, to travel to South Korea. Seoul, once seen as edging toward Tokyo-level prices, can now feel much more affordable, with KRW trading at 1 SGD = 1,131 KRW.
Street food and casual dining are where the difference shows up most clearly, as Korean barbecue (BBQ), fried chicken, and late-night snacks are just viewed more as everyday indulgences. There’s also Seoul’s café culture and K-pop charm, which is a big part of its global lifestyle appeal, both of which are now easier to enjoy without constantly checking your budget.
Outside the capital, places like Busan and Jeju Island benefit even more. Accommodation, domestic flights, and car rentals all now look much better value in SGD terms.
#3 Indonesia Rupiah – Down 10.2% Vs SGD (1 SGD = 13,260 IDR)
Indonesia has always been popular among Singaporeans, particularly Bali, for its digital nomad lifestyle and beach party scene.
In 2020, the Indonesian Rupiah (IDR) traded at 10,000 per SGD. Since then, however, the Indonesian Rupiah has continued to weaken against the SGD – it’s down 10.2% over the past year, at 1 SGD = 13,260 IDR.
Obviously, that has translated into better value across those villa stays, spas, dining and private transport for those of us earning money in Singapore Dollars.
For families or groups travelling together, which is often the case for beach destinations in Indonesia, the savings from a cheaper currency can add up quickly because accommodation and transport costs scale with size.
Beyond Bali, destinations like Lombok and parts of Java stand out even more. Meanwhile, for business travellers to Jakarta, a weaker local currency always helps them get more out of business-related costs, such as accommodation or dining.
#4 Philippine Peso – Down 7.6% Vs SGD (1 SGD = 46 PHP)
The Philippines might not always be top of the list for Singapore travellers, but its currency – the Philippine Peso – has also lost ground against the Singapore dollar over the past year. It’s down by 7.6% versus the Singapore Dollar in the past 12 months (1 SGD = 46 PHP)
The Philippines offers a different type of beach holiday for Singapore-based tourists. In popular places like Palawan, Boracay, and Cebu, hotel rates in SGD terms are now lower than they were a year ago. This means you can now enjoy your beach holiday on island-hopping tours, diving trips and private boat hires at a lower price.
#5 Indian Rupee – Down 11.4% Vs SGD (1 SGD = 72 INR)
Finally, we have India. Now, this may not be the default holiday choice for many Singaporeans, but the Indian Rupee’s (INR) steep decline against the SGD makes it worth reconsidering. With an over-11% decline (1 SGD = 72 INR) versus the Singapore Dollar, accommodation, transport, food, and guided experiences in Indian rupees are now much more affordable.
This matters for culturally rich trips, where hiring private drivers, local guides, or booking curated tours can transform the experience, particularly in popular tourist hotspots like Kerala or Goa. For travellers interested in history, food, spirituality, and diverse landscapes, as well as catching a glimpse of one of the world’s fastest-growing top 10 economies, India offers depth (for great value) that few destinations can match.
How Currency Weakness Can Upgrade Your Holiday
Currency movements do not make or break a destination on their own. There are multiple other factors to consider, such as safety, infrastructure, and what genuinely interests you. These obviously matter much more.
But exchange rates do shape how relaxed a trip feels. When everyday spending costs less in Singapore dollar terms, you are more likely to enjoy the moment without constantly doing mental calculations. With some regional currencies strengthening against the Singapore dollar, travel choices are becoming more uneven.
Japan, South Korea, Indonesia, the Philippines, and India still fall firmly into the group that offers Singapore-based travellers strong value thanks to their weakening currencies.
One simple way to make the most of this is to pay in local currency while travelling, instead of letting banks quietly mark up your spending. Multi-currency cards like YouTrip allow you to exchange and hold foreign currencies at competitive rates, helping you stretch your travel budget further without changing how you travel. When your destination is already cheaper because of currency weakness, avoiding unnecessary FX fees is an easy way to upgrade your holiday without spending more.
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