Singapore dollar

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Singapore dollar
Dolar Singapura (Malay)
新加坡元 (Chinese)
சிங்கப்பூர் வெள்ளி (Tamil)
ISO 4217
CodeSGD (numeric:702)
Subunit 0.01
Unit
Pluraldollars
Symbol $, S$
Nicknamesing-dollar, sing
Denominations
Subunit
1100 cent
Plural
cent cents
Symbol
cent c
Banknotes
Freq. used$2, $5, $10, $50, $100
Rarely used$1, $20, $25, $500, $1,000, $10,000 (discontinued, still legal tender)
Coins
Freq. used5c, 10c, 20c, 50c, $1
Rarely used1c (discontinued, still legal tender)
Demographics
Date of introduction12 June 1967;56 years ago (1967-06-12)
Replaced Malaya and British Borneo dollar
User(s)Flag of Singapore.svg  Singapore
Flag of Brunei.svg  Brunei
Issuance
Monetary authority Monetary Authority of Singapore
Website www.mas.gov.sg
Mint Singapore Mint
Website www.singaporemint.com
Valuation
Inflation 0.6% at January 2017
Pegged by Brunei dollar at par

On 27 June 2007, to commemorate 40 years of currency agreement with Brunei, a commemorative S$20 note was launched; the back is identical to the Bruneian $20 note launched simultaneously. [18] A circulation version of the $20 note can be exchanged at banks in Singapore beginning 16 July 2007, limited to two pieces per transaction.

On 18 August 2015, to commemorate Singapore's 50 years of nation-building, the Monetary Authority of Singapore launched a set of six commemorative notes. These commemorative notes comprise five S$10 polymer notes and a S$50 note. The note design's draw inspiration from significant milestones and achievements in Singapore's history, the multiracialism that defines the nation and the values and aspirations that underpin Singapore's progress. The front of both the $50 and $10 notes feature a portrait of Yusof Ishak, Singapore's first president, as in the current Portrait series notes. [19] The $50 note highlights Singapore's history, transformation and future. It shows the late Prime Minister of Singapore, Lee Kuan Yew, shouting "Merdeka!"—the rallying cry of Singapore's independence struggle. The note makes distinctive use of the colour gold, reflecting Singapore's Golden Jubilee. The five $10 notes have a common front design and varying back designs depicting the theme 'Vibrant Nation, Endearing Home'. Each note reflects a value or aspiration that defines the theme: 'Caring Community, Active Citizenry', 'Opportunities for All', 'Safe and Secure', 'Strong Families' and '...regardless of race, language or religion...'. [19]

In 2017, to commemorate the 50th anniversary of its Currency Interchangeability Agreement between Brunei and Singapore, both the Monetary Authority of Brunei Darussalam and the Monetary Authority of Singapore issued $50 polymer banknotes to commemorate that event. [2]

On 5 June 2019, a $20 note commemorating the Singapore Bicentennial was issued. [20]

Singapore dollar
Chinese name
Chinese 新加坡元
Singapore commemorative banknotes [21]
ValueDimensionsMain ColourOccasionDescriptionDate of issueMaterialRef.
ObverseReverse
$50156 × 74 mmRed25th Anniversary of the Independence of Singapore Optically variable device shows President Yusof bin Ishak, Singapore Harbour in 1861, four blossoms of the "Vanda Miss Joaquim" orchid, Tanjong Pagar container port and some prominent office buildings 1st Parliament of Singapore held on 8 December 1965 and group of multi-racial Singaporeans in jubilant celebration24 July 1990Polymer [22]
$25141 × 79 mmBrown25th Anniversary of the Monetary Authority of Singapore Monetary Authority of Singapore Building set against a view of Singapore's financial district and scene of the SIMEX trading floorSingapore's financial sector skyline10 May 1996Paper [23]
$20149 × 72 mmOrange40 Years of the Currency Interchangeability AgreementPresident Yusof bin Ishak and the "Dendrobium Puan Noor Aishah" orchidThe Esplanade, skyline of Singapore's financial district and the Omar Ali Saifuddien Mosque with the Royal Barge and the water village shown27 June 2007Polymer [24]
$50156 × 74 mmGoldSG50: Celebrating Singapore's 50 years of nation-buildingPresident Yusof bin Ishak, Prime Minister Lee Kuan Yew and a group of children of different races and genderFirst National Day Parade 1966 and the Punggol New Town11 August 2015Polymer [25]
$10141 × 69 mmRedPresident Yusof bin Ishak and the "Vanda Miss Joaquim" orchid"…regardless of race, language or religion…"11 August 2015Polymer [25]
$10141 × 69 mmRed"Opportunities for All"11 August 2015Polymer [25]
$10141 × 69 mmRed"Safe and Secure"11 August 2015Polymer [25]
$10141 × 69 mmRed"Strong Families"11 August 2015Polymer [25]
$10141 × 69 mmRed"Caring Community, Active Citizenry"11 August 2015Polymer [25]
$50158 × 75 mmGold50 Years of the Currency Interchangeability AgreementPresident Yusof bin Ishak, the "Vanda Miss Joaquim" orchid, the "Simpur" flower and the window security feature showing Brunei Darussalam's Istana Nurul Iman and Singapore's Istana Military personnel from the Royal Brunei Armed Forces and the Singapore Armed Forces, students from both countries, Brunei Darussalam's Ulu Temburong National Park and Singapore Botanic Gardens 5 July 2017Polymer [26]
$20162 × 77 mmBeige-PeachSingapore BicentennialPresident Yusof bin Ishak, National Gallery Singapore (former Supreme Court and City Hall)Eight pioneering individuals, namely Munshi Abdullah, Henry Nicholas Ridley, Tan Kah Kee, P. Govindasamy Pillai, Teresa Hsu Chih, Alice Pennefather, Adnan Saidi and Ruth Wong Hie King, portrayed against a backdrop of the Singapore River 5 June 2019Polymer [27]
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Exchange rates

Current exchange rates

Current SGD exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD IDR MYR
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD IDR MYR
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD IDR MYR
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD IDR MYR
Most traded currencies by value
Currency distribution of global foreign exchange market turnover [28]
RankCurrency ISO 4217
code
Symbol or
abbreviation
Proportion of daily volumeGrowth rate (2019-2022)
April 2019April 2022
1 U.S. dollar USDUS$88.3%88.5%Increase2.svg 0.2%
2 Euro EUR32.3%30.5%Decrease2.svg 5.5%
3 Japanese yen JPY¥ / 16.8%16.7%Decrease2.svg 0.6%
4 Sterling GBP£12.8%12.9%Increase2.svg 0.7%
5 Renminbi CNY¥ / 4.3%7.0%Increase2.svg 62.7%
6 Australian dollar AUDA$6.8%6.4%Decrease2.svg 5.8%
7 Canadian dollar CADC$5.0%6.2%Increase2.svg 24%
8 Swiss franc CHFCHF4.9%5.2%Increase2.svg 6.1%
9 Hong Kong dollar HKDHK$3.5%2.6%Decrease2.svg 25.7%
10 Singapore dollar SGDS$1.8%2.4%Increase2.svg 33.3%
11 Swedish krona SEKkr2.0%2.2%Increase2.svg 10%
12 South Korean won KRW₩ / 2.0%1.9%Decrease2.svg 5%
13 Norwegian krone NOKkr1.8%1.7%Decrease2.svg 5.5%
14 New Zealand dollar NZDNZ$2.1%1.7%Decrease2.svg 19%
15 Indian rupee INR1.7%1.6%Decrease2.svg 5.8%
16 Mexican peso MXN$1.7%1.5%Decrease2.svg 11.7%
17 New Taiwan dollar TWDNT$0.9%1.1%Increase2.svg 22.2%
18 South African rand ZARR1.1%1.0%Decrease2.svg 9%
19 Brazilian real BRLR$1.1%0.9%Decrease2.svg 18.1%
20 Danish krone DKKkr0.6%0.7%Increase2.svg 16.6%
21 Polish złoty PLN0.6%0.7%Increase2.svg 16.6%
22 Thai baht THB฿0.5%0.4%Decrease2.svg 20%
23 Israeli new shekel ILS0.3%0.4%Increase2.svg 33.3%
24 Indonesian rupiah IDRRp0.4%0.4%Steady2.svg 0%
25 Czech koruna CZK0.4%0.4%Steady2.svg 0%
26 UAE dirham AEDد.إ0.2%0.4%Increase2.svg 100%
27 Turkish lira TRY1.1%0.4%Decrease2.svg 63.6%
28 Hungarian forint HUFFt0.4%0.3%Decrease2.svg 25%
29 Chilean peso CLPCLP$0.3%0.3%Steady2.svg 0%
30 Saudi riyal SAR0.2%0.2%Steady2.svg 0%
31 Philippine peso PHP0.3%0.2%Decrease2.svg 33.3%
32 Malaysian ringgit MYRRM0.2%0.2%Steady2.svg 0%
33 Colombian peso COPCOL$0.2%0.2%Steady2.svg 0%
34 Russian ruble RUB1.1%0.2%Decrease2.svg 81.8%
35 Romanian leu RONL0.1%0.1%Steady2.svg 0%
36 Peruvian sol PENS/0.1%0.1%Steady2.svg 0%
37 Bahraini dinar BHD.د.ب0.0%0.0%Steady2.svg 0%
38 Bulgarian lev BGNBGN0.0%0.0%Steady2.svg 0%
39 Argentine peso ARSARG$0.1%0.0%Decrease2.svg 100%
Other1.8%2.3%Increase2.svg 27.7%
Total [note 1] 200.0%200.0%

Exchange rates charts

JPY/SGD exchange rate since 2013 JPY-SGD 1989-.svg
JPY/SGD exchange rate since 2013
SGD/EUR exchange rate since 2013 SGD-EUR 1999-.svg
SGD/EUR exchange rate since 2013

See also

Notes

  1. The total sum is 200% because each currency trade is counted twice: once for the currency being bought and once for the one being sold. The percentages above represent the proportion of all trades involving a given currency, regardless of which side of the transaction it is on. For example, the US dollar is bought or sold in 88% of all currency trades, while the euro is bought or sold in 31% of all trades.

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References

Citations

  1. Monetary Authority of Singapore. "The Currency Interchangeability Agreement". Archived from the original on 25 October 2012. Retrieved 23 October 2012.
  2. 1 2 "Currency Interchangeability Agreement between Brunei Darussalam and Singapore". Monetary Authority of Singapore (www.mas.gov.sg). Archived from the original on 5 July 2017. Retrieved 6 July 2017.
  3. 1 2 3 4 "The Currency History of Singapore". Monetary Authority of Singapore. 9 April 2007. Archived from the original on 2 February 2010. Retrieved 28 December 2007. Official Currencies of The Straits Settlements (1826–1939); Currencies of the Board of Commissioners of Currency, Malaya (1939–1951); Currencies of the Board of Commissioners of Currency, Malaya and British Borneo (1952–1957); Currencies of the Independent Malaya (1957 -1963); On 12 June 1967, the currency union which had been operating for 29 years came to an end, and the three participating countries, Malaysia, Singapore and Brunei each issued its own currency. The currencies of the 3 countries were interchangeable at par value under the Interchangeability Agreement until 8 May 1973 when the Malaysian government decided to terminate it. Brunei and Singapore however continue with the Agreement until the present day.
  4. Low Siang Kok, Director (Quality), Board of Commissioners of Currency, Singapore. "Chapter 6: Singapore Electronic Legal Tender (SELT) – A Proposed Concept". The Future of Money / Organisation for Economic Co-operation and Development (PDF). France: OECD Publications. p. 147. ISBN   92-64-19672-2. Archived (PDF) from the original on 16 February 2008. Retrieved 28 December 2007. The Board of Commissioners of Currency, Singapore (BCCS) was established on 7 April 1967 by the enactment of the Currency Act (Chapter 69). It has the sole right to issue currency notes and coins as legal tender in Singapore.{{cite book}}: CS1 maint: multiple names: authors list (link)
  5. "BCCS Merges with MAS on 1 October 30 September 2002". www.mas.gov.sg. Archived from the original on 19 June 2018. Retrieved 19 June 2018.
  6. "Currency in Circulation (2011 to 2020)" (PDF).
  7. "Currency". Archived from the original on 31 December 2014. Retrieved 6 January 2015.
  8. "International Economics – Historical Exchange Rate Regime of Asian Countries". The Chinese University of Hong Kong, Copyright 2000. Archived from the original on 3 August 2008. Retrieved 15 August 2008.
  9. "Singapore Statutes Online – 69 – Currency Act". Archived from the original on 3 January 2015. Retrieved 6 January 2015.
  10. "Monetary Authority of Singapore Amendment Bill". Archived from the original on 4 July 2017. Retrieved 6 July 2017.
  11. "Monetary Authority of Singapore – Official Foreign Reserves page". Archived from the original on 10 September 2022. Retrieved 10 September 2022.
  12. "The new coins of Singapore". Monetary Authority of Singapore (www.mas.gov.sg). Archived from the original on 24 February 2013. Retrieved 21 February 2013.
  13. "PARITY DEMOCRACY and MONEY: Annual Meetings Paper 11". COUNCIL for PARITY DEMOCRACY. Archived from the original on 20 February 2012. Retrieved 18 November 2012.
  14. Low, Aaron (2 July 2014). "Singapore to stop issuing $10,000 notes to combat money laundering". The Straits Times. Retrieved 7 June 2019.
  15. "ECB ends production and issuance of €500 banknote". European Central Bank. Archived from the original on 13 July 2016. Retrieved 7 July 2016.
  16. 1 2 "Singapore to stop issuing S$1,000 note to reduce money laundering risk". CNA. Retrieved 9 November 2020.
  17. "MAS: We will stop issuing the $10,000 note from October 1st | the Real Singapore". Archived from the original on 14 July 2014. Retrieved 12 July 2014.
  18. "Commemorating the 40th Anniversary the Currency Interchangeability Agreement" (Press release). Monetary Authority of Singapore. 27 June 2007. Archived from the original on 3 July 2007. Retrieved 22 April 2010.
  19. 1 2 "Commemorative Notes to Celebrate SG50". Monetary Authority of Singapore (www.mas.gov.sg). Archived from the original on 20 August 2015. Retrieved 18 August 2015.
  20. "About the Singapore Bicentennial Commemorative Note". Monetary Authority of Singapore . Archived from the original on 23 June 2019. Retrieved 23 June 2019.
  21. "Past Commemorative Notes". Monetary Authority of Singapore. Archived from the original on 30 September 2018. Retrieved 11 June 2019.
  22. "Currency Notes and Coins (Consolidation) Notification – Singapore Statutes Online". Singapore Statutes Online. Retrieved 11 June 2019.
  23. "Currency Notes and Coins (Consolidation) Notification – Singapore Statutes Online". Singapore Statutes Online. Retrieved 11 June 2019.
  24. "Denomination and Characteristics of the Currency Note – Singapore Statutes Online". Singapore Statutes Online. Retrieved 11 June 2019.
  25. 1 2 3 4 5 6 "Currency (Denominations and Characteristics of Currency Notes) Notification 2015 – Singapore Statutes Online". Singapore Statutes Online. Retrieved 11 June 2019.
  26. "Currency (Denomination and Characteristics of Currency Note) Notification 2017 – Singapore Statutes Online". Singapore Statutes Online. Retrieved 11 June 2019.
  27. "Currency (Denomination and Characteristics of Currency Note) Notification 2019 – Singapore Statutes Online". Singapore Statutes Online. Retrieved 11 June 2019.
  28. "Triennial Central Bank Survey Foreign exchange turnover in April 2022" (PDF). Bank for International Settlements. 27 October 2022. p. 12. Archived (PDF) from the original on 27 October 2022. Retrieved 29 October 2022.

Sources

Preceded by:
Malaya and British Borneo dollar
Reason: Independence
Ratio: at par
Currency of Singapore, Brunei
1967
Concurrent with: Brunei dollar
Succeeded by:
Current