Compare today's SGD to LKR (Singapore Dollar to Sri Lankan Rupee) exchange rates
📈 Singapore to Sri Lanka Money Transfer Snapshot Today
- Best SGD to LKR exchange rate today: LKR 243.3770, offered by Instarem
- Number of money transfer providers compared: 12
- Exchange rate range: LKR 236.1796 to LKR 243.3770
- Potential savings on SGD 1000: LKR 7,197.40
- Number of deals and promo codes: 3
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real SGD to LKR exchange rate before providers add their margin or fees. exchange rate: 1 SGD = LKR 243.2478 (Updated about an hour ago)
See detailed Singapore to Sri Lanka money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 Special exchange rate applied for first transfer
📢 B2B transfers only
📢 Special exchange rate applied for first transfer
📢 B2B transfers only
📢 New! Cash pickup available
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's SGD-LKR exchange rates mean for you
Compare today's SGD-LKR exchange rates and send money from Singapore to Sri Lanka after comparing numerous money transfer providers. Check the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
RemitFinder compared 12 providers that you can rely on for Singapore to Sri Lanka money transfers today. Here is a summary of how the competition looks like right now:
Today's Most Competitive Singapore to Sri Lanka Providers
🥇 Instarem with 1 SGD = 243.3770 LKR (best SGD to LKR exchange rate today).
🥈 Revolut offering 1 SGD = 242.9185 LKR.
🥉 Regency FX & Panda Remit are also providing good FX rate today.
The exchange rate provided by these 12 providers ranges from LKR 236.1796 to LKR 243.3770. For a SGD 1000 money transfer from Singapore to Sri Lanka, that could mean up to LKR 7,197.40 saved on FX alone.
SGD-LKR exchange rates fluctuate throughout the day, and top positions can change quickly. This volatility can significantly impact the final LKR payout that your recipient gets in Sri Lanka.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your Singapore to Sri Lanka remittances.
🔄 Looking for the reverse corridor? Send money from Sri Lanka to Singapore instead.
Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Singapore.
👇 We also suggest looking beyond today's SGD-LKR exchange rate — historical pricing trends show many factors that can affect the overall transfer cost of your transfer.
Whilst SGD-LKR exchange rate is crucial, historical data shows that transfer fees, SGD amount sent and payment and delivery methods can also significantly influence your final payout.
Below, we analyze Singapore to Sri Lanka historical remittance data to help you understand where costs may arise and share some best practices to try to maximize your LKR payout.
Data-driven cost insights for Singapore to Sri Lanka money transfers
When you send money internationally from Singapore to Sri Lanka, the key factors that will influence the overall cost of your transaction are:
- SGD-LKR exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum LKR payout for your overseas recipient in Sri Lanka.
Another counter-balancing aspect is money transfer speed. If you need to rush money from Singapore to Sri Lanka, you may have to compromise on some of the above factors whilst optimizing for speed.
To put this into a better perspective using a data-driven approach, we analyzed historical remittance pricing1 for Singapore to Sri Lanka money transfers to compare transfer costs, FX margins, fees, and payment and delivery methods across providers.
This analysis is based on 336 actual Singapore to Sri Lanka money transfers handled by 14 providers over the last 5 years (for a SGD 260 remittance benchmark).
This data-driven approach using real SGD-LKR transfer data provides useful insights into identifying the lowest-cost payment and delivery combinations, thereby helping you reduce costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read format.
📌 Key insights for Singapore to Sri Lanka money transfers
- Average total cost: 3.36% (range -3.88% to 7.36%, spread 11.24 percentage points)
- Potential payout difference: On a SGD 260 transfer, the above variation can save you up to SGD 29.22.
- Average FX markup: 1.32% (range -3.88%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. to 5.28%, spread 9.16 percentage points) - Average transfer fee: SGD 5.31 (range SGD 0.00 to SGD 12.79)
- Cheapest payment/delivery method combo: Bank Account Transfer → Bank Deposit (2.03% avg cost); most expensive is Credit Card → Bank Deposit (5.28%)
- Payment/delivery method choice impact: Cheapest vs most expensive combo saves 3.25% (SGD 8.46 on SGD 260 transfer).
- Market coverage: ~14 providers on average (competition level: competitive)
- Average speed: About 8 hours
🛠️ Key takeaway: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide detailed data-driven insights on various factors that influence the total cost of your Singapore to Sri Lanka money transfers.
📈 SGD to LKR exchange rate is often the biggest driver of both cost and payout
The exchange rate on your Singapore to Sri Lanka money transfers is usually the single biggest factor that will determine your overall SGD cost and your recipient's LKR payout.
To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market exchange rate
Based on historical pricing data for a SGD 260 money transfer benchmark, we see the following FX markup ranges for Singapore Dollar to Sri Lanka transfers:
- Average markup: 1.32%
- Median markup: 1.25%
- Lowest markup: -3.88%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. - Highest markup: 5.28%
That is a spread of 9.16 percentage points between the lowest and highest observed FX markups.
To put this into perspective, on a SGD 260 transfer, the above markup range is equivalent to roughly LKR 23.82 purely from differences in the exchange rate. That incremental saving increases to LKR 59.08 for a SGD 645 transfer.
🛠️ How to use this insight: When comparing providers for Singapore to Sri Lanka remittances, pay close attention to the exchange rate you receive. A small difference in the FX markup can quickly outweigh other factors like fees, and the gap generally grows as transfer amounts increase.
SGD to LKR exchange rate can be the single most critical factor that determines the cost of your transfer. When comparing providers, keep an eye on the rate you will get.
💰 Transfer fees affect your total Singapore to Sri Lanka remittance cost
Whilst exchange rate is a major factor affecting total transfer cost, the transfer fee can also have a big impact on how much of your Singapore Dollar reaches your recipient in Sri Lanka.
Based on data from last 5 years, we notice the below about Singapore Dollar to Sri Lanka money transfer fees:
- Average fee: SGD 5.31
- Median fee: SGD 5.00
- Lowest fee: SGD 0.00
- Highest fee: SGD 12.79
The average fee amount of SGD 5.31 noted above represents 2.04% of the total amount sent.
Also note that even if two providers provide the same exchange rate, a best vs worst case transfer fee can increase the payout by SGD 12.79.
🛠️ How to use this insight: For your next money transfer from Singapore to Sri Lankan Rupee, look for providers that provide lower (or even 0) fees.
One caveat to this, though, is something called the hidden fee. Some providers may hide their real fees by offering a 0 or low fee, but providing a lower exchange rate. The money lost due to an inferior FX rate affects your bottom line and is referred to as a hidden fee. Therefore, you should also keep an eye on rates whilst paying attention to fees.
Another point that you should keep in mind is that for larger transfers, fixed fees become a lesser percentage of total amount. But for smaller transfers, fees can be a major part of total cost.
💸 Payment and delivery methods matter for SGD-LKR remittances
Based on our detailed analysis of historical Singapore to Sri Lanka data, we see consistent variation in overall cost amongst the payment method and delivery method you choose.
Here is the average cost for popular payment methods used to send money to Sri Lanka from Singapore:
- Bank Account Transfer: 2.16%
- Cash: 3.12%
- Debit Card: 3.50%
- Credit Card: 4.67%
That is a total spread of 2.51 percentage points.
This means that on a SGD 260 transfer, you could save up to SGD 6.52 simply by choosing the best priced payment method.
These savings will only multiply for higher SGD amounts.
Here is the average cost of popular delivery methods used to send money from Singapore to Sri Lanka:
- Bank Deposit: 3.05%
- Cash Pickup: 3.53%
The cost difference between the above delivery methods is 0.48 percentage points.
Once again, this means that you could save up to SGD 1.25 on a SGD 260 transfer to Sri Lanka by choosing Bank Deposit versus Cash Pickup.
As you can imagine, the possible combinations of Singapore payment methods and Sri Lanka delivery methods will all have disparate cost. Let us look at that next.
Here is a summary of the average cost of payment and delivery method combinations for Singapore to LKR money transfers.
| Payment Method | Delivery Method | Average Cost (%) |
|---|---|---|
| Bank Account Transfer | Bank Deposit | 2.03 |
| Bank Account Transfer | Cash Pickup | 2.57 |
| Cash | Cash Pickup | 3.06 |
| Cash | Bank Deposit | 3.39 |
| Debit Card | Cash Pickup | 3.47 |
| Debit Card | Bank Deposit | 3.59 |
| Credit Card | Cash Pickup | 4.47 |
| Credit Card | Bank Deposit | 5.28 |
Sorted by Average Cost % (cheapest to most expensive).
As you can see, the difference between these SGD-LKR payment and delivery options is significant. Here are some observations:
- Bank Account Transfer → Bank Deposit has the lowest average cost at 2.03%.
- Credit Card → Bank Deposit has the highest average cost at 5.28%.
- Bank Account Transfer → Bank Deposit average cost is 3.25 percentage points lower than that of Credit Card → Bank Deposit.
- This means that on a SGD 260 money transfer, you could save up to SGD 13.73 simply by choosing the best payment and delivery method combo.
- Further, on a SGD 645 money transfer, the savings increase to SGD 34.06.
Here is a quick summary of the average historical cost of various payment and delivery methods for SGD to Sri Lanka money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Bank Account Transfer averaged 2.16%, compared to 4.67% for Credit Card, a difference of 2.51 percentage points.
- Cheapest delivery method: Bank Deposit averaged 3.05%, compared to 3.53% for Cash Pickup (0.48 percentage points higher).
- Cheapest combo: Bank Account Transfer → Bank Deposit averaged 2.03%, which is 3.25 percentage points lower than Credit Card → Bank Deposit (5.28%).
🛠️ How to use this insight: As you compare money transfer providers for your next Singapore to Sri Lanka international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This can help you avoid the pitfall of "great exchange rate, expensive methods".
You can save money on your Singapore to Sri Lanka remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than money transfer providers for SGD-LKR remittances?
When we compared Singapore banks with money transfer providers based on 5 years of remittance data, we noticed some patterns.
Interestingly, for Singapore to Sri Lanka remittances, traditional banks are 0.66 percentage points cheaper on average than money transfer providers.
This means money transfer companies tend to be approximately 0.81x more expensive than banks on average.
Here are the key stats behind this comparison:
| Banks | MTOs^ | Difference | |
|---|---|---|---|
| Average transfer fee | SGD 4.90 | SGD 5.36 | SGD -0.46 |
| Exchange rate markup | 0.90% | 1.38% | -0.48 pp* |
| Average total cost (%) | 2.78% | 3.44% | -0.66 pp* |
^MTO: Money transfer operator, a commonly used term for a money transfer provider
*Percentage points
🛠️ How to use this insight: Historical data shows that banks in Singapore can be competitive. However, pricing still varies by provider, transfer amount, and method — so comparing options can still be beneficial.
📊 Does sending more money reduce the cost of SGD-LKR money transfers?
To see if transfer cost varies based on the amount sent, we compared the average cost of sending SGD 260 vs SGD 645 from Singapore to Sri Lanka.
We found that sending a higher amount (SGD 645) tends to be cheaper - average cost drops from 3.36% to 2.53%, a reduction of 0.83 percentage points.
The cost of your transfer usually continues to drop as transfer amount increases. That said, always check the latest exchange rates and fees for your intended transfer amount.
🛠️ How to use this insight: Since it is generally cheaper to send higher Singapore Dollar amounts to Sri Lanka, consider consolidating smaller, more frequent transfers into fewer, larger ones. Doing so may reduce the total cost you pay.
🏛 How competitive is the Singapore to Sri Lanka remittance market?
Based on data from the last 5 years, SGD-LKR money transfers are provided on an average by 14 remittance companies. With around 14 providers serving this market, we consider the level of competition to be competitive.
Traditional banks have represented only 14.3% of active providers in this corridor (2 out of 14), meaning money transfer companies make up the majority.
A remittance market with more active providers is typically more competitive. This means you can get a better pricing and more payment and delivery options for your Singapore to Sri Lanka remittances.
⏱️ How fast are SGD-LKR money transfers?
If your recipient in Sri Lanka needs funds urgently, you may need to optimize your transfer for speed.
Here is what we see for Singapore to Sri Lanka transfers when it comes to processing time:
- Average transfer time: About 8 hours.
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About 96 hours (~4.0 days).
- Average speed at SGD 260: About 8 hours.
- Average speed at SGD 645: About 8 hours.
Banks vs money transfer providers speed comparison: Banks take 9 hours longer on average than money transfer providers.
🛠️ How to use this insight: If you need to send money from Singapore to Sri Lanka in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed also varies based on the delivery method (bank vs cash vs wallet) you choose for Sri Lanka.
Singapore to Sri Lanka transfer speed varies across providers, so compare transfer speed along with cost for time-sensitive money transfers. In addition, pick the fastest payment and delivery methods for faster processing.
Frequently Asked Questions about Singapore to Sri Lanka money transfers
These FAQs use data from RemitFinder's historical analysis of Singapore to Sri Lanka money transfers over several years.
What factors affect the total cost of sending money from Singapore to Sri Lanka?
The total cost of your SGD-LKR money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate you get, and any transfer fee charged by the provider.
To avoid overpaying for your transfer, compare money transfer providers.
How much does the exchange rate affect Singapore to Sri Lanka transfers?
Historical SGD to LKR exchange rate markup ranges from -3.88% to 5.28%, a spread of 9.16 percentage points. Even small differences in the exchange rate markup can impact your final payout significantly.
Can SGD-LKR exchange rate markup be negative?
Sometimes, money transfer providers may offer promotional exchange rates that are better than the mid-market exchange rate, resulting in a negative SGD-LKR exchange rate markup.
Such offers are generally limited by transfer amount, eligibility, or duration. Compare providers to see if you can take advantage of any ongoing special offers.
Is the exchange rate or the transfer fee more important for Singapore to Sri Lanka transfers?
Exchange rate markup ranges from -3.88% to 5.28% (a spread of 9.16 percentage points).
Transfer fees range from SGD 0.00 to SGD 12.79, which equals roughly 4.92% on a SGD 260.00 transfer.
At both SGD 260.00 and SGD 645.00, the exchange rate markup shows larger variation than the other component.
Regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for Singapore to Sri Lanka transfers.
As the transfer amount increases, the % impact of fees decreases (because the fee gets spread across a larger SGD amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.
For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate often becomes the bigger driver. Either way, comparing both helps you get the most LKR for your SGD.
How much can Singapore to Sri Lanka transfer costs vary between providers?
Historical transfer cost ranges from -3.88% to 7.36% for SGD transfers to Sri Lanka. That is a spread of 11.24 percentage points, meaning significant differences between various money transfer providers.
A major contributor to this variation is exchange rate markup. FX markup alone ranges from -3.88% to 5.28% (a spread of 9.16 percentage points). Thus, even small differences in FX margin can have a big impact on the final LKR payout.
Why do various money transfer providers price SGD to Sri Lanka transfers differently?
If you send the same Singapore Dollar amount to Sri Lanka via different providers, the cost of each transfer will be different because of variations in FX markup, fees, and payment and delivery methods.
Even small differences among all the above factors can change the final LKR payout in Sri Lanka in a big way.
How stable are transfer costs in the Singapore to Sri Lanka corridor?
When we analyzed the historical total cost for SGD-LKR transfers, we observed a range from -3.88% to 7.36% (11.24 percentage points difference), along with a variability (standard deviation) of 1.69%.
A major driver of cost in this market is exchange rate markup. FX markup ranges from -3.88% to 5.28% (9.16 percentage points difference), with a standard deviation of 1.22%. Fees and payment/delivery method choices can contribute to further volatility.
This is exactly why we recommend comparing money transfer providers to get the most of your SGD-LKR transfers.
Which payment method is cheapest for Singapore to Sri Lanka remittances?
Bank Account Transfer is the cheapest payment method in Singapore based on its average cost at 2.16% (compared to Credit Card at 4.67%, a difference of 2.51 percentage points).
Based on this, we recommend paying for your SGD transfer with Bank Account Transfer, and avoiding Credit Card if possible.
Is Debit Card cheaper than Credit Card for Singapore to Sri Lanka transfers?
Debit Card is cheaper on average when sending money to Sri Lanka from Singapore since it costs 3.50% (compared to 4.67% for Credit Card payments, a difference of 1.17 percentage points).
As a result, we recommend that you avoid paying for your transfer to Sri Lanka with a Credit Card.
Which delivery method is cheapest for SGD-LKR money transfers?
Bank Deposit is the cheapest delivery method in Sri Lanka as it costs 3.05% (compared to Cash Pickup at 3.53%, a spread of 0.48 percentage points).
If your recipient in Sri Lanka can accept Bank Deposit, we recommend choosing it as your preferred delivery option for SGD-LKR transfers.
Is Bank Deposit cheaper than Cash Pickup for Singapore to Sri Lanka transfers?
Bank Deposit is cheaper for transfers to Sri Lanka given its 3.05% average cost (versus 3.53% for Cash Pickup, a difference of 0.48 percentage points).
To save more, consider choosing the cheapest delivery option for Sri Lanka.
What is the cheapest way to send money from Singapore to Sri Lanka?
We evaluated 8 payment and delivery method combinations for Singapore to Sri Lanka remittances.
Based on historical data, Bank Account Transfer → Bank Deposit is the cheapest combination with 2.03% cost.
At the other end of the spectrum, Credit Card → Bank Deposit is the most expensive combination at 5.28% cost. That is a difference of 3.25 percentage points between the cheapest and most expensive combinations.
Money transfer providers tend to price payment and delivery methods for Singapore to Sri Lanka remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your SGD-LKR transfers.
Does sending more money reduce the cost for Singapore to Sri Lanka transfers?
Larger SGD-LKR transfers are cheaper on average.
The cost of a SGD 260 transfer averages 3.36% as compared to 2.53% for a SGD 645 transfer, a difference of 0.83 percentage points.
How long does it take to send money from Singapore to Sri Lanka?
Based on our analysis, the average transfer time for SGD-LKR transfers is 8 hours, with the fastest transfers completing in less than one hour and the slowest in 96 hours (~4.0 days).
Are instant transfers available from Singapore to Sri Lanka?
Yes, historical data shows that some transfers to Sri Lanka from Singapore can complete in less than one hour.
Note that the actual speed of your SGD-LKR transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for Singapore to Sri Lanka?
Banks in Singapore are competitive and can be cheaper than money transfer providers.
The average cost of banks is 2.78% compared to 3.44% for money transfer providers in Singapore, a difference of -0.66 percentage points.
How competitive is the Singapore to Sri Lanka remittance market?
Based on historical data, the competition level in Singapore to Sri Lanka is considered competitive with 14 active providers.
Money transfer providers represent about 85.7% of identified providers in Singapore.
Do I risk overpaying if I do not compare providers for Singapore to Sri Lanka?
Historically, total SGD-LKR transfer cost has varied by 11.24 percentage points. On a SGD 260 transfer, that can translate to SGD 29.22 in savings.
SGD-LKR exchange rate markup also varies across providers. The average markup spread has been about 9.16 percentage points. On a SGD 260 transfer, that could be SGD 23.82 saved from FX alone.
Fees can also make a big difference in this market, with a difference of about SGD 12.79 across providers.
That is why comparing providers can materially change how much of the SGD you send does your recipient receive in Sri Lanka in Sri Lanka.
Latest SGD to LKR Conversion Rates
Here are some latest SGD to LKR (Singapore Dollar to Sri Lankan Rupee) exchange rates for popular conversion amounts*.
| 1 SGD | 243.25 LKR |
| 5 SGD | 1,216.24 LKR |
| 10 SGD | 2,432.48 LKR |
| 25 SGD | 6,081.20 LKR |
| 50 SGD | 12,162.39 LKR |
| 100 SGD | 24,324.78 LKR |
| 150 SGD | 36,487.17 LKR |
| 200 SGD | 48,649.56 LKR |
| 250 SGD | 60,811.95 LKR |
| 300 SGD | 72,974.34 LKR |
| 400 SGD | 97,299.12 LKR |
| 500 SGD | 121,623.90 LKR |
| 600 SGD | 145,948.68 LKR |
| 700 SGD | 170,273.46 LKR |
| 800 SGD | 194,598.24 LKR |
| 1000 SGD | 243,247.80 LKR |
| 1500 SGD | 364,871.70 LKR |
| 2000 SGD | 486,495.60 LKR |
| 2500 SGD | 608,119.50 LKR |
| 3000 SGD | 729,743.40 LKR |
| 4000 SGD | 972,991.20 LKR |
| 5000 SGD | 1,216,239.00 LKR |
| 10000 SGD | 2,432,478.00 LKR |
| 15000 SGD | 3,648,717.00 LKR |
| 20000 SGD | 4,864,956.00 LKR |
| 30000 SGD | 7,297,434.00 LKR |
| 40000 SGD | 9,729,912.00 LKR |
| 50000 SGD | 12,162,390.00 LKR |
| 100000 SGD | 24,324,780.00 LKR |
*Based on the Mid-market Exchange Rate
1 Based on 336 pricing observations across 14 firms over the last 5 years for a SGD 260 money transfer from Singapore to Sri Lanka. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.
How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the Singapore to Sri Lanka remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.