HMRC monthly
BoE SGD/GBP Spot Rate · 3 May 2024
SGD units per £1 · Singapore Dollar · Singapore
Source · BoE
Using these rates for a CGT calculation?
TealFX compares HMRC and BoE rates automatically — and identifies the most favourable compliant rate.
BoE vs HMRC monthly average
Bank of England
Daily spot · 3 May 2024
SGD per £1
HMRC Monthly Average
May 2024
SGD per £1
Difference: -0.0043 (-0.25%)
Both sources are HMRC-accepted. You must use the same rate source consistently across acquisition and disposal within a single CGT calculation. We calculate your gain under both and show you the difference. Try the calculator →
What is the Bank of England SGD/GBP spot rate?
The Bank of England publishes official daily spot exchange rates at 4pm London time on each working day. On 3 May 2024, the SGD/GBP rate was 1.6933 — meaning £1 sterling bought 1.6933 Singapore Dollar.
These rates reflect the mid-market rate between buyers and sellers of sterling and are published as part of the BoE's statistical database. They are accepted by HMRC for capital gains tax calculations on foreign asset disposals.
Using this rate for capital gains tax
If you acquired or disposed of a foreign asset on 3 May 2024, this Bank of England spot rate is one of two acceptable rate sources for your CGT calculation.
To convert a SGD amount to GBP using this rate: divide by 1.6933. For example, SGD 100,000 ÷ 1.6933 = £59,056.
Other BoE rates for 3 May 2024
View all 26 currencies →TealFX Calculator
Use this rate in your CGT calculation
Enter your disposal details and TealFX applies the 3 May 2024 SGD spot rate automatically — then compares it against the HMRC monthly average so you can use the most favourable compliant figure.
7-day free trial · Full access
Frequently asked questions
Can I use the Bank of England spot rate for capital gains tax?
Yes. HMRC accepts the Bank of England daily spot rate as a valid method for converting foreign currency amounts to sterling for CGT purposes. You may use either the BoE daily spot rate or the HMRC monthly average rate — but must apply one source consistently across acquisition and disposal within a single calculation.
What is the Bank of England SGD/GBP rate for 3 May 2024?
The Bank of England official daily spot exchange rate for Singapore Dollar (SGD) on 3 May 2024 is 1.6933 SGD per £1.
What is the difference between the BoE spot rate and the HMRC monthly average?
The Bank of England daily spot rate is the mid-market rate recorded at 4pm on a specific date. The HMRC monthly average is a single rate computed as the average of daily rates across the entire month. Both are HMRC-approved. The difference can be meaningful on large disposals, and which is more favourable depends on the specific dates and currency movements during the month.
Where does the Bank of England publish exchange rates?
The Bank of England publishes daily spot rates through its statistical database at bankofengland.co.uk. We import these rates directly from the BoE's official data feed, so the figures on this page match the BoE's published data.