Singapore dollar

The dollar (sign: $; 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 cents.

History

Between 1845 and 1939,

Singapore used the Straits dollar. This was replaced by theMalayan dollar,and, from 1953, the

Malaya and British Borneo dollar, which were issued by the Board of Commissioners of Currency, Malaya and British Borneo.

Singapore continued to use the common currency upon joining Malaysia in 1963 but, two years after

Singapore's expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke

down. Singapore established the Board of

Commissioners of Currency, Singapore, on April 7, 1967 and issued its first coins and notes. Nevertheless,
the Singapore dollar was exchangeable at par with the Malaysian ringgit until 1973, and

interchangeability with the Brunei dollar is still maintained.

Initially, the Singapore dollar was pegged to the British pound sterling at a rate of S$60 = £7. This peg

lasted until the demise of the Sterling Area in the early 1970s, after which the Singapore dollar was linked to

the US dollar for a short period of time. As

Singapore's economy grew and its trade links diversified to many other countries and regions,

Singapore moved towards pegging its currency against a fixed and

undisclosed trade-weighted basket of currencies from 1973 to 1985. From 1985 onwards, Singapore

adopted a more market-oriented exchange regime – classified as a Monitoring Band – in which theSingapore dollar is allowed

to float (within an undisclosed bandwidth of a central parity) but closely monitored by theMonetary

Authority of Singapore (MAS) against a concealed basket of currencies

of Singapore's major trading partners and competitors. This in theory allows the Singaporean

government to have more control over imported inflation and to ensure that Singapore's exports remain

competitive. All issued Singapore dollar currency in circulation is fully backed by international assets

to maintain public confidence.

The Board of Commissioners

of Currency, Singapore, was dissolved on October 1, 2002 and its functions, property and liabilities

have been transferred to the MAS.

Coins

In 1967, the first series of coins was introduced in denominations of 1, 5, 10, 20

and 50 cents and 1 dollar. Except for the bronze 1 cent, these coins were struck in cupro-nickel.

In 1985, a second series of coins was

introduced in the same denominations. The sizes of the coins were reduced (most substantially for the larger

denominations) and the 5 cents was struck in aluminium-bronze. In 1987, the 1 dollar coin was further

reduced in size and switched to being struck in aluminium-bronze.

First Series (1967–1985)
Value	Technical parameters				Description			Date of issue
	Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
1 cent	17.780 mm	1.118 mm	1.940 g	Bronze	Plain	Value and Year	A high-rise public housing block with a fountain in front and clouds in the background	June 12,1967
1 cent			1.240 g	Copper-clad steel				1976
5 cents	16.26 mm	1.02 mm	1.410 g	Cupro-nickel	Milled	Value and Year	A snake-bird sitting in its nest and preening its feathers.	June 12,1967
5 cents			1.260 g	Cupro-nickel clad steel
5 cents (FAO)	21.23 mm	1.27 mm	1.240 g	Aluminium			A fish and the phrases "INCREASE PRODUCTION" and "MORE FOOD FROM THE SEA."	1971
10 cents	19.41 mm	1.40 mm	2.83 g	Cupro-nickel			A seahorse with a stylized piece of seaweed.	June 12,1967
20 cents	23.60 mm	1.78 mm	5.66 g				A swordfish against a background symbolizing water.
50 cents	27.76 mm	2.03 mm	9.33 g				A lionfish from tropical waters.
$1	33.32 mm	2.39 mm	16.85g				A stylized Singapore lion symbol flanked by two stalks of paddy.
For table standards, see the coin specification table.

The current series of coins feature the Coat of Arms of Singapore on the obverse, and a floral theme on the reverse.

Second Series (1985–present)
Value	Technical parameters				Description			Date of issue
	Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
1 cent	15.9 mm	1.1 mm	1.24 g	Copper-platedzinc	Plain	Coat of Arms, "Singapore" in 4 official languages	Value, Vanda Miss Joaquim	September 28, 1987
5 cents	16.75 mm	1.22 mm	1.56 g	Aluminium bronze	Reeded	Coat of Arms, "Singapore" in 4 official languages	Value, Monstera deliciosa	December 2,1985
10 cents	18.5 mm	1.38 mm	2.6 g	Cupronickel	Reeded	Coat of Arms, "Singapore" in 4 official languages	Value, Jasminum multiflorum	December 2,1985
20 cents	21.36 mm	1.72 mm	4.5 g				Value, Calliandra surinamensis
50 cents	24.66 mm	2.06 mm	7.29 g		Reeded		Value, Allamanda Cathartica	December 2,1985
50 cents					Inscribed "REPUBLIC OF SINGAPORE" and the lion symbol			May 28, 1990
$1	22.40 mm	2.4 mm	6.3 g	Aluminium bronze	Inscribed "REPUBLIC OF SINGAPORE" and the lion symbol	Coat of Arms, "Singapore" in 4 official languages	Value, Lochnera rosea	September 28, 1987
For table standards, see the coin specification table.

Note:

• 6.81 million 1 cent coins are in circulation as at 1 December 2006, but are no longer issued since 2003.
• 5.86 million 5 cent coins are still in circulation as at 1 December 2006, but are no longer issued.

Bank Notes

On June 12, 1967, the first series of notes, known as the Orchid series, was introduced in denominations of 1, 5, 10,50, 100 and 1000 dollars. 25 and 500 dollar notes were introduced in 1972, followed by 10,000 dollars in 1973. Between 1976 and 1980, the Bird series was introduced, including a 20 dollar note introduced in 1979. This series did not include a 25 dollar note. The Ship series was introduced between 1985 and 1989 in the same denominations except for the absence of a 20 dollar note. Notes for 2 dollars were introduced in 1990.

4th Series – Portrait Series (1999–present)
Image		Value	Dimensions	Main Colour	Description		Date of issue	Status	Material
Obverse	Reverse				Obverse	Reverse
		$2	126 × 63 mm	Purple	Yusof bin Ishak, Money Cowrie	Education	September 9, 1999	Circulation	Paper
							January 12, 2006		polymer
		$5	133 × 66 mm	Green	PresidentYusof bin Ishak, Gold-Ringed Cowrie	Garden City	September 9, 1999		Paper
							May 18, 2007		Polymer
		$10	141 × 69 mm	Red	PresidentYusof bin Ishak, Wandering Cowrie	Sports	September 9, 1999		Paper
							May 4, 2004		Polymer
		$50	156 × 74 mm	Blue	PresidentYusof bin Ishak, Cylindrical Cowrie	Arts	September 9, 1999		Paper
		$100	162 × 77 mm	Orange	PresidentYusof bin Ishak, Swallow Cowrie	Youth			Paper
		$1000	170 × 83 mm	Pink	PresidentYusof bin Ishak, Beautiful Cowrie	Government			Paper
		$10000	180 × 90 mm	gold	PresidentYusof bin Ishak, Onyx Cowrie	Economics			Paper

The current Portrait series was introduced in 1999, with the 1 and 500 dollar denominations omitted. These notes feature the face of Yusof bin Ishak, the first president of the Republic of Singapore, on the obverse, and the reverse depicts a feature of civic virtue. There are both paper and polymer notes in circulation. The designs of the polymer notes are very similar to the corresponding paper note except for the slightly slippery feel and a small transparent window design in the corner of the banknote. Polymer notes are progressively replacing the paper banknotes in circulation. The notes also has Braille pattern at the top right-hand corner of the front design.

Commemorative Banknotes

Commemorative banknotes is also released, usually in limited quantities. The first commemorative banknote was released in 24 July 1990, to celebrate the 25th anniversary of Singapore's independence. On 8 December 1999, to celebrate the coming millennium, 3 million $2 millennium notes were circulated. The note is similar to the $2 portrait series, except that the prefix of the serial number is replaced with a Millennium 2000 logo. On 27 June 2007, to commemorate 40 years of currency agreement with Brunei, the $20 note was launched; the back is identical to the Bruneian $20 note launched concurrently. A circulation version of the $20 note can be exchanged at banks in Singapore beginning July 16,2007, limited to two pieces per transaction.

Singapore commemorative banknotes
Image		Value	Dimensions	Main Colour	Description		Date of issue	Material
Obverse	Reverse				Obverse	Reverse
		$20	145 × 69 mm	yellow/brown	President Yusof bin Ishak,“Dendrobium Puan Noor Aishah” orchid	Text reading “BRUNEI DARUSSALAM ∙ SINGAPORE and CURRENCY INTERCHANGEABILITY AGREEMENT 1967 - 2007” and national landmarks of Singapore and Brunei.	27 June 2007	Polymer
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.