It’s a bit of a give and take this week. Groceries just got a little cheaper, but driving in Singapore just got a lot pricier. Sheng Siong is sweetening its CHAS discount to 6%, while Grab is rolling out a brand-new marketplace for buying cars—new or used. Speaking of cars, Category A COE premiums just smashed through $133,000, a fresh all-time high (ouch). Meanwhile, the Singdollar is flexing against the ringgit, hitting a 10-month peak, and oil prices are creeping back past US$100 a barrel as tensions flare in the Middle East. Here's your round-up of the week's biggest money stories.
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Sheng Siong sweetens CHAS discount to 6%, running till January 2027
Sheng Siong is raising its discount for blue and orange CHAS card holders to 6%, up from 4%, running until 1 January 2027. Blue CHAS card holders enjoy the discount on Thursdays, while orange card holders get theirs on Fridays. Senior citizens keep their 4% discount on Tuesdays and Wednesdays.
The discount is capped at $200 in a single receipt daily, and excludes items like infant formula (stages 1 and 2), tobacco, alcohol, and Sheng Siong vouchers.
- Households earning up to $1,500 per person a month qualify for the blue card; those earning $1,501–$2,300 qualify for orange.
- Sheng Siong briefly doubled the discount to 8% in June 2026 before returning it to 4%—this latest bump to 6% is a step up from that baseline.
- Those shopping for elderly family members can use the senior's physical NRIC at checkout, while CHAS card holders can show a physical or digital card.
Sheng Siong's move follows rival FairPrice, which announced its own 6% CHAS discount on 2 September, running from 3 September to 1 January 2027.
AS Card holder doing your grocery run, it's worth pairing the discount with a credit card that rewards grocery spending to stack your savings further.
- cashback on daily spend at McDonald's, Grab, SimplyGo & Shopee
- Up to 10%
- cashback at all grocery spend
- Up to 8%
- cashback cap a year
- Up to S$2,240
- Cash Back on Groceries, Petrol & Private Commute
- Up to 8%
- Total Cash Back Cap, per month
- S$80
- at Caltex, Shell & Esso
- Up to 23.64% savings
Get S$400 Cash Reward or 6,140 SmartPoints (worth up to S$649 of Gifts) as quickly as 5 weeks —just spend S$500 within 30 days of card approval with your new Citibank Credit Card! T&Cs apply.
ALSO READ: UOB One vs Citi Cash Back: When Does 8% Cashback Beat 20%?
Grab launches online marketplace for new and used cars
Grab has launched a car marketplace selling both new and pre-owned vehicles, with more than 40 listings live on day one. Used cars range from $11,800 for a Mazda 3 Sedan with 8 months of COE left, to $189,888 for a 1-month-old Honda Freed Hybrid.
- All new cars on the platform—more than 20 of them—are electric or hybrid models, including the BYD Seal 6 DM-i and Hyundai Kona Hybrid.
- Some listings belong to Grab's own rental arm, GrabRentals, while others come from dealerships like SG Car Choice and CarTimes Automobile.
- Car owners looking to sell can list their vehicles by emailing Grab directly.
The marketplace also advertises GXS AutoLoan, the financing arm backed by Grab and Singtel. When asked if buyers must finance through GXS, Grab said it's just "one of the financing options" for its private-hire drivers—not a blanket requirement for anyone using the marketplace. Some of the dealers listing on the marketplace also supply vehicles to Grab's private-hire and taxi fleets.
If you're weighing up a used car purchase of your own, do read up on costs, COE, and loan options. You can also use our tool to compare car loan interest rates in Singapore.
Singapore dollar hits 10-month high against the ringgit
The Singapore dollar climbed to a 10-month high against the Malaysian ringgit on 9 September, touching RM3.2207—a level last seen in October 2025. The rise comes as rising US Treasury yields and risk-off sentiment pushed investors towards the Singdollar as a regional safe haven.
- The Monetary Authority of Singapore's exchange-rate framework, which manages the Singdollar against a basket of trading partners, is helping buffer it from global market stress.
- The ringgit, meanwhile, is under pressure from foreign capital outflows—global funds pulled US$122 million from Malaysian stocks in the first week of September, on top of a US$486 million outflow in August.
- Analysts view the ringgit's weakness as temporary, noting Malaysia's underlying growth, investment pipeline, and export sector remain solid.
Bank Negara Malaysia held its benchmark rate at 2.75% on 3 September for a 7th straight meeting, and Maybank still favours the ringgit over the longer term.
If you're planning a trip across the Causeway to make the most of the stronger Singdollar, a multi-currency card can help you avoid poor conversion rates on the ground—alongside knowing the cheapest way to get there.
Category A COE premiums hit new record above $133,000
Category A COE premiums broke their previous record at $133,009 (US$105,000) in the Wednesday bidding exercise, up $4,508 or 3.5% from $128,501 in the last round. The previous high of $129,000 was set on 8 July 2026.
- Category B (larger cars): up 3.1% to $135,001.
- Category C (commercial vehicles): up 3.4% to $93,101.
- Category D (motorcycles): up 11.1% to $12,556.
- Category E (open): up 2.1% to $137,890.
A total of 4,776 bids were received against a quota of 3,253 COEs. The quota for the August to October period stands at 19,085, up 0.2% from the previous quarter.
The Land Transport Authority said prices remain elevated because of the 3-week gap since the last bidding exercise, and urged buyers and dealers to bid prudently.
ALSO READ: COE Guide in Singapore (2026): What It Means, Bidding Process & Price Trends
Brent crude tops US$100 on Middle East escalation
Brent crude oil pushed past US$100 a barrel on 9 September for the first time since the end of July, as renewed conflict in the Middle East stoked fears over supply. Brent jumped more than 2% to US$100.19 before easing to US$99.90, while West Texas Intermediate headed towards US$95.
- The US-Iran conflict is now in its 7th month, with Iran saying it struck a US military base in Jordan on 9 September in retaliation for American attacks on its vessels in the Strait of Hormuz.
- Iran has also threatened tankers off Kuwait and Bahrain, while Saudi Arabia and Yemen's Houthi rebels traded strikes near the Bab al-Mandab shipping chokepoint.
- Investors are growing anxious that the US Federal Reserve will need to hike rates to tame inflation, with the US consumer price index due 11 September seen as a key signal.
The European Central Bank was tipped to raise rates on 10 September. Wall Street's main indexes fell on rate-hike fears, while Asian markets were mixed—Seoul led gainers as chipmaker SK hynix rallied more than 3%.
That's it for this week! Stay tuned for next week's What's Happening This Week to keep up with the latest in finance, business, and beyond.
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