Currency exchange is one of the major factors that must be considered by students while planning to study abroad. Whether it’s paying tuition fees, managing living expenses, or simply having cash in hand, the process of exchanging rupees for foreign currencies is critical due to the fluctuating exchange rates.
DBS (Development Bank of Singapore) is one of the major foreign banks operating in India and abroad. DBS currency exchange rate is better as compared to a lot of banks and online service providers. Let’s understand how to monitor the DBS currency exchange rate and the process of exchanging currency.
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What is the DBS Currency Exchange Rate?
DBS offers competitive foreign exchange rates for a variety of currencies. The exchange rate you get determines how much foreign currency you receive for a set amount of Indian Rupees (INR). Exchange rates are dynamic and fluctuate frequently based on market conditions, supply and demand, and various global economic factors. It is very important to understand how currency exchange rates are calculated so that you can get more money.
DBS updates these rates regularly, which is why keeping an eye on the exchange rate before making large transfers can save money. DBS exchange rates are better than some other banks due to its strong presence in the global market, especially in Asia. This can be beneficial for international students studying in countries like Singapore, Australia, the UK, or the US, where DBS operates or partners with local banks.
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DBS Currency Exchange Rate
DBS Currency Exchange rate is mentioned in detail on the official website of the bank. You can check the real-time exchange rate and get your money exchanged when the rate is favourable. Check the details about the rate of exchange below:
| Currency | Selling TT and Cash | Buying TT and Cash |
| USD | 85.3574 | 82.0102 |
| AUD | 58.5297 | 55.9540 |
| Swiss Franc | 100.6287 | 96.2002 |
| GBP | 114.1154 | 109.0935 |
| EUR | 95.3111 | 91.1169 |
| CAD | 63.5282 | 60.7324 |
| Hongkong Dollar | 10.9903 | 10.5088 |
| Singapore Dollar | 66.4636 | 63.5387 |
| YEN | 0.5902 | 0.5643 |
| UAE Dirham | 23.2964 | 22.2711 |
Note: DBS Currency exchange rates are subject to change without prior notice. Students and individuals are advised to check the exchange rate properly before initiating transactions.
Why do DBS Exchange Rates Matter for Students?
For international students studying abroad, small fluctuations in the currency exchange rate can have a major impact on their finances. For example, a tuition fee of 20,000 USD or GBP can cost you more in INR if the exchange rate rises unfavourably. This is why locking in a favourable exchange rate with DBS currency exchange services at the right time can lead to savings on tuition fees, rent, and other expenses. While making DBS Bank international transfer, you can check the exchange rate. Check more details below:
- Regularly transferring money for tuition payments can be costly if not done properly. Using DBS’s currency exchange services when rates are favourable can save you thousands of rupees.
- Day-to-day expenses abroad, like groceries, rent, and transportation, can also fluctuate based on the exchange rate.
- If you’ve taken an education loan in INR, you might have to convert foreign income into INR for repayments.
- With the DBS currency exchange rate, you can save money while making transactions.
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How to Use DBS Exchange Rate Tools?
DBS provides a lot of digital tools and services to help students manage their foreign exchange transactions easily. You can use your DBS student account to make international transactions. DBS has a handy feature called FX Watch, which lets you monitor exchange rate movements and even set alerts so that you never miss out on a favourable exchange rate. Check more details below:
- International students studying abroad can use DBS Remit to transfer money to India or other countries in real time with no fees for certain transfers.
- DBS Remit is fast, reliable, and offers competitive rates compared to other options.
- The entire transaction can be performed through the app or the official website of DBS.
- DBS also offers multi-currency savings accounts which allow you to hold and exchange multiple currencies within a single account.
- This can be useful for students who frequently travel between countries or need to manage multiple currencies for tuition and living expenses.
Benefits of Using DBS for Currency Exchange
DBS offers some of the best rates in the market beating local money exchangers, airport currency exchange or any other. With DBS’s strong digital platform, currency exchange can be done online or through the DBS mobile app. This will make it easier for students to transfer money without the hassle of visiting a bank branch. Check some major benefits of DBS Currency Exchange below:
- DBS often has lower transaction fees for international money transfers which will help you save money.
- Being one of the largest and most reputable banks in Asia, DBS offers a secure platform for handling your money so that your funds can be safe.
- You can also open an international bank account with DBS Bank and can use the banking services 24×7 across the globe.
For international students studying abroad, understanding the importance of currency exchange rates is very important. DBS currency exchange services provide competitive rates, ease of use, and a range of tools to help you manage your money more efficiently. Check some common FAQs based on DBS currency exchange below:
FAQs on DBS Currency Exchange Rates for Indian Students
International students can check DBS currency exchange rates through the DBS website or mobile app. The bank updates rates multiple times a day. You can also use the FX Watch feature to set alerts for favourable rates.
DBS is known for offering competitive exchange rates, especially in Asia. While rates may vary, DBS often provides better rates than local money exchangers and some other banks.
Yes, DBS Remit offers real-time international transfers with zero fees for certain countries. This is especially useful for students transferring money to pay tuition or living expenses abroad.
Yes, DBS offers multi-currency accounts that allow you to hold and exchange multiple currencies. This is ideal for students who need to manage funds in different currencies for tuition, travel, or other expenses.
Weekdays generally offer better rates as currency markets are open. Students should monitor rates regularly using DBS tools like FX Watch and aim to exchange larger amounts when favourable rates are available.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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