As with other countries, Singapore also has its own currency. Currently the currency of Singapore is the Singapore dollar.

This currency is certainly not the only currency Singapore has ever used. Before the Singapore dollar was officially used, there were already several other types of Singapore dollars that the Lion country had also used.

Currently the Singapore dollar currency is issued or printed and its use is regulated by the Monetary Authority of Singapore.

History of Singapore’s currency

Initially, the Singapore currency was the Straits dollar which was used from 1845 to 1939. In 1953, this currency was replaced by the British Malaya and Borneo Dollars issued by the Board of Commissioners for British, Malaya and Borneo Currency.

In 1963, when it merged with Malaysia, Singapore apparently used the same currency.

In 1965, Singapore separated from Malaysia and at that time Singapore changed their currency.

On 7 April 1967, Singapore established the Board of Commissioners of Currency, Singapore and issued the first serial money on 12 June 1967. The money series issued was the “Orkid” banknote.

Although currently the currency is the dollar, the ISO code, currency, and exchange rate are different from the American dollar.

For the Singapore dollar, the exchange rate symbol is S $ with Singapore dollars.

There are several other countries that also use the name of the dollar currency followed by the name of the country, such as Hong Kong, Taiwan, New Zealand, Australia, Brunei Darussalam, Suriname, and Canada.

Singapore dollar denomination

The Singapore dollar denomination itself is almost the same as Indonesia, namely there are coins and paper money . The fractions are as follows.

Coins

• 1 sen
• 5 sen
• 10 sen
• 20 sen
• 50 sen
• $ 1

Paper Money

• 2 SGD
• 5 SGD
• 10 SGD
• 20 SGD
• 50 SGD
• 100 SGD
• 1.000 SGD
• 10.000 SGD

For the 10,000 SGD banknote, there are several series, namely Orchid Aranda Majulah, Aranda Singapura, Majulah Singapura and Yusuf bin Ishak series.

That was information about the Singapore dollar. For those of you who want to know more about currency or insurance? 

Frequently Asked Questions about the Singapore dollar