Singapore dollar

"SGD" redirects here. For other uses, see SGD (disambiguation).

Singapore dollar
新加坡元 (Chinese) Dolar/Ringgit Singapura (Malay) சிங்கப்பூர் வெள்ளி (Tamil)
ISO 4217 code	SGD
Monetary authority	Monetary Authority of Singapore
Website	www.mas.gov.sg
User(s)	Singapore Brunei (Alongside the Brunei dollar)
Inflation	4.6%
Source	The World Factbook, 2011 est.
Pegged by	Brunei dollar at par
Subunit
1/100	cent
Symbol	S$
Nickname	Sing
Coins
Freq. used	5, 10, 20, 50 cents, $1
Rarely used	1 cent (no longer issued but still usable), $5
Banknotes
Freq. used	$2, $5, $10, $50, $100 & $1000
Rarely used	$20, $25, $10,000
Mint	Singapore Mint
Website	www.singaporemint.com

Singapore dollar
Chinese name
Chinese	新加坡元
Transcriptions Mandarin - Hanyu Pinyin Xīnjiāpō yuán
Malay name
Malay	Dolar/Ringgit Singapura
Tamil name
Tamil	சிங்கப்பூர் வெள்ளி

The Singapore dollar or dollar (sign: $; code: SGD) is the official 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.

The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain the historic exchangeability of their two currencies, the Singaporean dollar and the Brunei dollar, respectively. The dollar is accepted as "customary tender" in Brunei according to the Currency Interchangeability Agreement. Likewise, the Brunei dollar is customarily accepted in Singapore

History

Between 1845 and 1939, Singapore used the Straits dollar. This was replaced by the Malayan 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 only 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 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 the Singapore dollar is allowed to float (within an undisclosed bandwidth of a central parity) but closely monitored by the Monetary 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 foreign reserves officially stood at over US$230 billion, as of May 2011.

Before 1970, the various monetary functions associated with a central bank were performed by several government departments and agencies. As Singapore progressed, the demands of an increasingly complex banking and monetary environment necessitated streamlining the functions to facilitate the development of a more dynamic and coherent policy on monetary matters. Therefore, parliament passed the Monetary Authority of Singapore Act in 1970, leading to the formation of MAS on 1 January 1971. The MAS Act gave the MAS the authority to regulate all elements of monetary, banking, and financial aspects of Singapore.

On 31 March 2003, the Board of Commissioners of Currency Singapore (BCCS) merged with the Monetary Authority of Singapore (MAS), which took over the responsibility of banknote issuance.

Coins

In 1967, the first series of coins was introduced in denominations of 1,5,10,20 and 50 cents and 1 dollar.The production of the series was phased out by 1985.

First Series ("Marine Series") (1967–1985) [1]
Value	Technical parameters				Description			Date of issue
	Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
1 cent	17.78 mm	1.118 mm	1.940 g	Bronze	Plain	A high-rise public housing block with a fountain in front and clouds in the background	Value and Year	June 12, 1967
1 cent			1.744 g	Copper-clad steel				1976
5 cents	16.26 mm	1.02 mm	1.410 g	Cupro-nickel	Milled	A snake-bird sitting in its nest and preening its feathers.	Value and Year	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	16.85 g			A stylized Singapore lion symbol flanked by two stalks of paddy.
For table standards, see the coin specification table.

In 1985,the second series of coins were introduced in denominations 1,5,10,20 and 50 cents and 1 dollar.The production of the series will be phased out by 2017.

Second Series ("Floral Series") (1985–2017) [2]
Value	Technical parameters				Description			Date of issue
	Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
1 cent	15.90 mm	1.10 mm	1.24 g	Copper-plated zinc	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	18.50 mm	1.38 mm	2.60 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	4.50 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	2.40 mm	6.30 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.

On February 21, 2013, the Monetary Authority of Singapore announced a new series of coins which will be in circulation by mid-2013, featuring Singapore's national icons and landmarks. It will be struck on a multi-ply plated steel planchet used by the Royal Canadian Mint and will come with enhanced features to differentiate from fakes. The coins also feature new designs, the one dollar, now a Bi-Metallic coin will feature the Merlion, the fifty cent coin featuring the Port of Singapore, the twenty cent coin will depict the Changi International Airport, the ten cent coin featuring public housing and the five cent coin featuring the Esplanade.

Third Series ("National icons and landmarks series") (2013–present) [3]
Value	Technical parameters				Description			Date of issue
	Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
5 cents	16.75 mm	1.22 mm	1.70 g	Brass plated steel	Plain	Coat of Arms of Singapore, "Singapore" in 4 official languages	The Esplanade	Mid-2013
10 cents	18.50 mm	1.38 mm	2.36 g	Nickel plated steel	Interrupted and reeded	Coat of Arms of Singapore, "Singapore" in 4 official languages	Public Housing	Mid-2013
20 cents	21 mm	1.72 mm	3.85 g	Nickel plated steel	Reeded	Coat of Arms of Singapore, "Singapore" in 4 official languages	Changi International Airport	Mid-2013
50 cents	23 mm	2.45 mm	6.56 g	Nickel plated steel	Micro scalloped	Coat of Arms of Singapore, "Singapore" in 4 official languages	Port of Singapore	Mid-2013
1 dollar	24.65 mm	2.50 mm	7.62 g	Bi-metallic plating consisting of a brass plated ring with a nickel plated center plug	Reeded	Coat of Arms of Singapore, "Singapore" in 4 official languages	The Merlion and a laser mark micro engraving of the Vanda Miss Joaquim	Mid-2013

Note:

• 6.71 million 1 cent coins are in circulation as of 1 December 2011, but are no longer issued since 2003.

Banknotes

Bird series

The Bird Series of currency notes is the second set of notes to be issued for circulation in Singapore. Issued in the years 1976 to 1984, it has nine denominations, the same number as in the Orchid Series, albeit the $25 note was replaced by the $20 note.

Each note features a bird on the right side of the note's front, a theme selected to represent a young Singapore "ever ready to take flight to greater heights". Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and Chairman of the Board of Commissioners of Currency, Singapore, on the front of the note. As an added security feature, all notes have a vertically embedded security thread, while the $1,000 and $10,000 notes have two.

2nd Series - Bird Series (1976–1984) [4]
Image		Value	Dimensions	Main Colour	Description			Date of issue
Obverse	Reverse				Obverse	Reverse	Watermark
[5]	[6]	$1	125 mm x 63 mm	Blue	Black-naped Tern	National Day parade	Lion's head	6 August 1976
[7]	[8]	$5	133 mm x 66 mm	Green	Red-whiskered Bulbul	Cable cars and aerial view of the harbour
[9]	[10]	$10	141 mm x 69 mm	Red	White-collared Kingfisher	Garden city with high rise public housing in background
[11]	[12]	$20	149 mm x 72 mm	Brown	Yellow-breasted Sunbird	Changi International Airport Complex with the Concorde in the foreground		6 August 1979
[13]	[14]	$50	157 mm x 75 mm	Blue	White-rumped Shama	School band on parade		6 August 1976
[15]	[16]	$100	165 mm x 78 mm	Blue	Blue-throated Bee-eater	Dancers of various ethnic groups		1 February 1977
[17]	[18]	$500	181 mm x 84 mm	Green	Black-naped Oriole	Oil refinery
[19]	[20]	$1000	197 mm x 90 mm	Purple	Brahminy Kite	Container Terminal		7 August 1978
[21]	[22]	$10,000	203 mm × 133 mm	Green	White-bellied Sea-Eagle	Two scenes of the Singapore River		1 February 1980

Orchid series

The Orchid Series of currency notes is the earliest to be issued for circulation in Singapore. Issued in the years 1967 to 1976, it has nine denominations.

Each note has an orchid design in the centre of the note's front, the orchid being the national flower of Singapore. A scene of Singapore is depicted on the back, which varies across denominations. Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and Chairman of the Board of Commissioners of Currency, Singapore, on the front of the note. As an added security feature, all notes have at least one vertically embedded security thread, while the $10,000 note has two.

1st Series - Orchid Series (1967–1976) [23]
Image		Value	Dimensions	Main Colour	Description			Date of issue	Printer
Obverse	Reverse				Obverse	Reverse	Watermark
[24]	[25]	$1	121 × 64 mm	Dark blue	Vanda Janet Kaneali	Blocks of flats in a housing estate	Lion's head	12 June 1967	BWC
[26]	[27]	$5	127 × 71 mm	Green	Vanda T.M.A.	A busy scene on the Singapore River
[28]	[29]	$10	133 × 79 mm	Red	Dendrobium Marjorie Ho "Tony Pek"	Four clasped hands on a background of a map of Singapore			TDLR
[30]	[31]	$25	140 × 79 mm	Brown	Renanthopsis Aurora	Supreme Court Building		7 August 1972
[32]	[33]	$50	146 × 87 mm	Blue	Vanda Rothscildiana "Teo Choo Hong"	Singapore seafront and Clifford Pier		12 June 1967
[34]	[35]	$100	159 × 95 mm	Mid-Blue and mauve	Cattleya	A peaceful scene along the Singapore waterfront			BWC
[36]	[37]	$500	160 × 96 mm	Green	Dendrobium Shangri-La	Government Offices at St Andrew's Rd		7 August 1972	TDLR
[38]	[39]	$1000	159 × 95 mm	Mauve and dark grey	Dendrobium Kimiyo Kondo "Chay"	Victoria Theatre & Empress Place		12 June 1967
[40]	[41]	$10,000	203 × 133 mm	Green	Aranda Majulah	The Istana		29 January 1973

Ship series

An example of a Singapore $1 note printed with The Ship Series

Singapore $1 showing a picture of a satellite on the reverse side of its note

The Ship Series of currency notes is the third set of notes to be issued for circulation in Singapore. Issued in the years 1984 to 1999, it retains the number of denominations as was in the previous two series of notes, but switches the $20 note for the $2 one.

A maritime theme to reflect Singapore's maritime heritage was adopted, and progressively shows across the various denominations, the different kinds of ships which have plied Singapore's waters as the country developed. These vignettes are located on the front of the note. On the back, various scenes depicting Singapore's achievements are shown, as well as an orchid, to symbolise the country's national flower.

Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and Chairman of the Board of Commissioners of Currency, Singapore, on the front of the note. As an added security feature, all notes have a vertically embedded security thread.

3rd Series - Ship Series (1984 - 1999) [42]
Image		Value	Dimensions	Main Colour	Description			Date of issue
Obverse	Reverse				Obverse	Reverse	Watermark
[43]	[44]	$1	125 mm x 63 mm	Blue	"Sha Chuan"	Sentosa Satellite Earth Station	Lion's head	12 January 1987
[45]	[46]	$2	133 mm x 63 mm	Red	"Tongkang"	Different ethnic groups participating in Chingay procession		28 January 1991
[47]	[48]	$2		Purple				16 December 1991
[49]	[50]	$5	133 mm x 66 mm	Green	"Twakow"	View of the PSA Container Terminal		21 August 1989
[51]	[52]	$10	141 mm x 69 mm	Red	Barter trading vessel "Palari"	View of public housing		1 March 1988
[53]	[54]	$50	156 mm x 74 mm	Blue	Coaster vessel "Perak"	Bird's-eye view of Benjamin Sheares Bridge		9 March 1987
[55]	[56]	$100	165 mm x 78 mm	Brown	Passenger liner "Chusan"	Bird's-eye view of Singapore Changi Airport		1 August 1985
[57]	[58]	$500	175 mm x 83 mm	Green	General cargo vessel "Neptune Sardonyx"	Group of men and women from the three services of the Armed Forces and the Civil Defence Force with the outline map of Singapore in the background		1 March 1988
[59]	[60]	$1000	185 mm x 88 mm	Purple	Container ship "Neptune Garnet" and two container quay cranes	Bird's-eye view of a ship repair yard		22 October 1984
[61]	[62]	$10,000	195 mm x 93 mm	Red	General bulk carrier "Neptune Canopus"	1987 National Day Parade		21 August 1989

The latest (portrait) series

Main article: Singapore Portrait Series currency notes

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 have Braille patterns at the top right-hand corner of the front design.

4th Series – Portrait Series (1999–present) [63]
Image		Value	Dimensions	Main Colour	Description		Date of issue	Status	Material
Obverse	Reverse				Obverse	Reverse
		$2	126 × 63 mm	Purple	President Yusof bin Ishak, Money Cowrie	Education	September 9, 1999	Circulation	Paper
							January 12, 2006		Polymer
		$5	133 × 66 mm	Green	President Yusof bin Ishak, Gold-Ringed Cowrie	Garden City	September 9, 1999		Paper
							May 18, 2007		Polymer
		$10	141 × 69 mm	Red	President Yusof bin Ishak, Wandering Cowrie	Sports	September 9, 1999		Paper
							May 4, 2004		Polymer
		$50	156 × 74 mm	Blue	President Yusof bin Ishak, Cylindrical Cowrie	Arts	September 9, 1999		Paper
		$100	162 × 77 mm	Orange	President Yusof bin Ishak, Swallow Cowrie	Youth			Paper
		$1000	170 × 83 mm	Pink	President Yusof bin Ishak, Beautiful Cowrie	Government			Paper
		$10,000	180 × 90 mm	Gold	President Yusof bin Ishak, Onyx Cowrie	Economics			Paper

The S$10,000 and B$10,000 note are the world's most valuable banknotes (that are officially in circulation). As of August 2011, it is worth over seven times as much as the next most valuable, the 1000 Swiss franc note.

Commemorative banknotes

Commemorative banknotes are also released, usually in limited quantities. The first commemorative banknote was released on 24 July 1990, to celebrate the 25th anniversary of Singapore's independence. On December 8, 1999, to celebrate the coming 2000 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. These millennium notes are printed on paper as polymer notes were not introduced yet then.

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. 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 [64]
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.	June 27, 2007	Polymer
These images are to scale at 0.7 pixels per millimeter.

Current SGD exchange rates
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From fxtop.com:	AUD CAD CHF EUR GBP HKD JPY USD MYR INR CNY

See also

• Economy of Singapore

References

• Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501. 
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9. 

External links

• Images and specifications of the 2013 series of coins in Singapore

• Technical outlook of Singapore Dollar

Preceded by: Malaya and British Borneo dollar Reason: Independence Ratio: at par

Currency of Singapore, Brunei 1967 – Concurrent with: Brunei dollar

Succeeded by: Current