Sign - $, S$ / Code - SGD
Long before our corporate currency exchange brokers were helping our clients with their Singapore Dollar transfers, the Singapore Dollar was creating its own rich history.
About the Singapore Dollar
The Singapore Dollar was introduced in 1967, following the country's expulsion from Malaysia and subsequent breakdown of the monetary union between Malaysia, Singapore and Brunei.
Although the S$ was initially pegged to the British Pound, this ended in the 1970s following the end of the Sterling Area, during which the Singapore Dollar was briefly pegged to the US$.
From 1985, Singapore has adopted a more market-oriented exchange regime in which the S$ is allowed to float but is closely monitored by their Monetary Authority, allowing for more controlled inflation.
The Singapore Dollar is also used in Brunei as legal tender, in addition to the Brunei Dollar.
The S$ symbol is often used to help differentiate the Singapore Dollar from the US Dollar.
Subunit: Cent – 1/100
Coins: 5¢, 10¢, 20¢, 50¢, $1
Banknotes: $2, $5, $10, $50, $100, $1000
Posted in Currency Wiki on Jun 27 2017