Information AboutSgd |
| CATEGORIES ABOUT SINGAPORE DOLLAR | |
| currencies of singapore | |
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The dollar ( Currency Code ''SGD'') is the Currency of Singapore . It is normally abbreviated with the Dollar Sign $, or alternatively S$ to distinguish it from other Dollar -denominated currencies. It is divided into 100 Cent s. HISTORY Between 1845 and 1939 , Singapore used the Straits Dollar . This was replaced by the Malayan And British North Bornean Dollar , as regulated by the Board of Commissioners of Currency. Singapore continued to use the common currency upon joining Malaysia in 1963 but, one year after its expulsion and independence in 1965 , the monetary union with Malaysia broke down. Singapore established the Board of Commissioners of Currency, Singapore on April 7 , 1967 and released its first series of notes, the "Orchid" Notes , on June 12 , 1967 . The Board of Commissioners of Currency, Singapore was dissolved on October 1 , 2002 and its functions, property and liabilities had been transferred to the Monetary Authority Of Singapore . CURRENT STATUS The Singapore dollar is a freely convertible currency which is allowed to float according to supply and demand on the foreign exchange market, but would be monitored by the Monetary Authority Of Singapore against a trade-weighted basket of currencies. The currencies involved are not publicised to protect the currency against speculative attacks and other unusual pressures on the currency's value. Since the Asian Financial Crisis , various other countries have adopted Singapore's managed float system. Before the crisis 1 USD was worth approximately 1.4 , falling to 1.8 SGD. As of , in both countries. COINS To date, two series of coins for circulation have been issued.
Current coins in circulation The current series of Coin s feature the Coat Of Arms Of Singapore on one obverse, and the Flora theme on reverse. Note #1 cent coin is currently being decirculated #5 dollar coins exist, but are not being circulated BANKNOTES To date, four series of currency notes for circulation have been issued.
Current banknotes in circulation These notes feature the face of Encik Yusof Bin Ishak , the first president of the Republic of Singapore on one side, and the other side depicts a feature of civic virtue. EXTERNAL LINKS |
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