The Singapore dollar, divided into 100 cents, is the monetary unit of Singapore (currency code SGD). It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies.

History

For most of its history Singapore used the same currencies as the Straits Settlements and later British Malaya, as regulated by the Board of Commissioners of Currency .

Singapore continued to use a 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.

Current status

The Singapore dollar is a freely convertible currency loosely tied to the United States dollar. As of January 6, 2005, 1 USD is worth approximately 1.64696 SGD.

The Brunei dollar is pegged to the Singapore dollar at 1:1 rate, and each currency is legal tender in both countries.

Coins in circulation [1]

• 1 cent (Is currently being decirculated)
• 5 cent
• 10 cent
• 20 cent
• 50 cent
• 1 dollar

Banknotes in circulation [2]

• 2 dollar
• 5 dollar
• 10 dollar
• 50 dollar
• 100 dollar
• 1,000 dollar
• 10,000 dollar

Current banknotes and coins

The current series of banknotes issued is of the Portrait series. These notes feature the face of Inche Yusuf bin Ishaq, the first president of the Republic of Singapore on one side, and the other side depicts a feature of civic virtue.

• 2 dollar - "Education"
• 10 dollar - "Sports"
• 50 dollar - "Arts"
• 100 dollar - "Youth"

All coins feature the nation floral emblem of Singapore - the Vanda Miss Joaquim orchid on one side, and the Singapore coat of arms on the denomination side.