Singapore_dollar

From Wikipedia, the free encyclopedia Singapore dollar Singapore dollar Singapore dollar ???? (Chinese) Ringgit Singapura (Malay) ??????????? ?????? (Tamil) History Between 1845 and 1939, Singapore used the Straits dollar.[1] This was replaced by the Malayan dollar,[1] and, from 1953, the Malaya and British Borneo dollar, which were issued by the Board of Commissioners of Currency, Malaya and British Borneo.[1] Singapore continued to use the common currency upon joining Malaysia in 1963[1] but, two years after Singapore’s expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down.[1] Singapore established the Board of Commissioners of Currency, Singapore, on April 7, 1967[2] and issued its first coins and notes.[1] Nevertheless, the Singapore dollar was exchangeable at par with the Malaysian ringgit until 1973,[1] and interchangeability with the Brunei dollar is still maintained.[1] Initially, the Singapore dollar was pegged to the British pound sterling at a rate of S$60 = £7. This peg lasted until the demise of the Sterling Area in the early 1970s, after which the Singapore dollar was linked to the US dollar for a short period of time. As Singapore’s economy grew and its trade links diversified to many other countries and regions, Singapore moved towards pegging its currency against a fixed and undisclosed trade-weighted basket of currencies from 1973-1985. From 1985 onwards, Singapore adopted a more market-oriented exchange regime - classified as a Monitoring Band - in which the Singapore dollar is allowed to float (within an undisclosed bandwidth of a central parity) but closely monitored by the Monetary Authority of Singapore (MAS) against a concealed basket of currencies of Singapore’s major trading partners and competitors. This in theory allows the Singaporean government to have more control over imported inflation and to ensure that Singapore’s exports remain competitive. All issued Singapore dollar currency in circulation is fully backed by international assets to maintain public confidence.[3] The Board of Commissioners of Currency, Singapore, was dissolved on October 1, 2002 Circulating notes and coins of the Singapore dollar ISO 4217 Code Official user(s) Unofficial user(s) Inflation Source Pegged by Subunit 1/100 Symbol Nickname Coins Freq. used Rarely used Banknotes Freq. used Rarely used Monetary authority Website Mint Website SGD Circulating coins of the Singapore dollar Singapore Brunei 2.1% The World Factbook, 2007. Brunei dollar at par cent S$ Sing 5, 10, 20, 50 cents, $1 1 cent (not issued anymore but still usable) $2, $5, $10, $50 $1, $20, $100, $500, $1000, $10 000;$25 (commemorative and Orchid Series only) Monetary Authority of Singapore www.mas.gov.sg Singapore Mint www.singaporemint.com 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. 1 From Wikipedia, the free encyclopedia First Series (1967 - 1985) [1] Value Technical parameters Diameter Thickness Mass 1 cent 17.780 mm 1 cent 1.118 mm 1.940 g 1.240 g 1.410 g 1.260 g 1.240 g Description Singapore dollar Composition Edge Obverse Reverse Bronze Plain Value and Year A high - rise public housing block with a fountain in front and clouds in the background Date of issue June 12, 1967 1976 Copper-clad steel Cupro-nickel Cupro-nickel clad steel Aluminium Milled Value and Year 5 16.26 mm 1.02 mm cents 5 cents 5 21.23 mm 1.27 mm cents (FAO) A snake-bird sit- June ting in its nest 12, and preening its 1967 feathers. A fish and the phrases "INCREASE PRODUCTION" and "MORE FOOD FROM THE SEA." A seahorse with a stylized piece of seaweed. A swordfish against a background symbolizing water. A lionfish from tropical waters. A stylized Singapore lion symbol flanked by two stalks of paddy. 1971 10 19.41 mm 1.40 mm cents 20 23.60 mm 1.78 mm cents 2.83 g Cupro-nickel June 12, 1967 5.66 g 50 27.76 mm 2.03 mm cents $1 33.32 mm 2.39 mm 9.33 g 16.85g For table standards, see the coin specification table. and its functions, property and liabilities have been transferred to the MAS.[4] 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 aluminiumbronze. The current series of coins feature the Coat of Arms of Singapore on the obverse, and a floral theme on the reverse. 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. Banknotes 2 From Wikipedia, the free encyclopedia Second Series (1985 - present) [2] Value Technical parameters 1 cent 15.9 mm 1.1 mm 1.24 g Copperplated zinc Description Obverse Diameter Thickness Mass Composition Edge Plain Singapore dollar Reverse Date of issue Coat of Value, Vanda September Arms, Miss 28, 1987 "Singapore" Joaquim in 4 official languages Coat of Value, MonArms, stera "Singapore" deliciosa in 4 official languages Coat of Arms, "Singapore" in 4 official languages Value, Jasminum multiflorum Value, Calliandra surinamensis Value, Allamanda Cathartica December 2, 1985 May 28, 1990 December 2, 1985 5 16.75 mm 1.22 mm cents 1.56 g Aluminium bronze Reeded 10 18.5 mm cents 1.38 mm 2.6 g Cupronickel Reeded December 2, 1985 20 21.36 mm 1.72 mm cents 50 24.66 mm 2.06 mm cents 50 cents 4.5 g 7.29 g Reeded Inscribed "REPUBLIC OF SINGAPORE" and the lion symbol $1 22.40 mm 2.4 mm 6.3 g Aluminium bronze Inscribed "REPUBLIC OF SINGAPORE" and the lion symbol Coat of Value, Loch- September Arms, nera rosea 28, 1987 "Singapore" in 4 official languages For table standards, see the coin specification table. A ship series $1 note (obverse) 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. 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 3 From Wikipedia, the free encyclopedia 4th Series - Portrait Series (1999 - present) [3] Image Obverse Reverse $2 Value Dimensions Main Description Colour Obverse Reverse 126 × 63 mm Purple Yusof bin Ishak, Money Cowrie Green President Yusof bin Ishak, GoldRinged Cowrie Education Singapore dollar Date of issue Status Mate September Circulation Pape 9, 1999 January 12, 2006 polym $5 133 × 66 mm Garden City September 9, 1999 May 18, 2007 Pape Polym $10 141 × 69 mm Red President Sports Yusof bin Ishak, Wandering Cowrie President Arts Yusof bin Ishak, Cylindrical Cowrie Youth September 9, 1999 May 4, 2004 September 9, 1999 Pape Polym $50 156 × 74 mm Blue Pape $100 162 × 77 mm Orange President Yusof bin Ishak, Swallow Cowrie Purple President Yusof bin Ishak, Beautiful Cowrie gold President Yusof bin Ishak, Onyx Cowrie Pape $1000 170 × 83 mm Government Pape $10000 180 × 90 mm Science Pape 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. In 08 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 4 From Wikipedia, the free encyclopedia Singapore commemorative banknotes [4] Image Value Dimensions Main Description Colour Obverse Obverse Reverse $20 145 × 69 mm yellow/ President Yusof bin brown Ishak,“Dendrobium Puan Noor Aishah” orchid Singapore dollar Reverse Date Mat of issue Text reading “BRUNEI 27 Poly DARUSSALAM ∙ June SINGAPORE and 2007 CURRENCY INTERCHANGEABILITY AGREEMENT 1967 2007” and national landmarks of Singapore and Brunei. These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table. 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. Current SGD exchange rates From Yahoo! AUD CAD CHF EUR GBP Finance: HKD JPY USD MYR CNY IDR From XE.com: AUD CAD CHF EUR GBP HKD JPY USD MYR CNY IDR From AUD CAD CHF EUR GBP OANDA.com: HKD JPY USD MYR CNY IDR See also • Economy of Singapore References [1] ^ "The Currency History of Singapore". Monetary Authority of Singapore. 2007-04-09. http://www.mas.gov.sg/ currency/currency_info/ Heritage_Collection.html. Retrieved on 2007-12-28. "Official Currencies of The Straits Settlements (1826-1939); Currencies of the Board of Commissioners of Currency, Malaya (1939-1951); Currencies of the Board of Commissioners of Currency, Malaya and British Borneo (1952-1957); Currencies of the Independent Malaya (1957 -1963); On 12 June 1967, the currency union which had been operating for 29 years came to an end, and the three participating countries, Malaysia, Singapore and Brunei each issued its own currency. The currencies of the 3 countries were interchangeable at par value under the Interchangeability Agreement until 8 May 1973 when the Malaysian government decided to terminate it. Brunei and Singapore however continue with the Agreement until the present day." [2] Low Siang Kok, Director (Quality), Board of Commissioners of Currency, Singapore. "Chapter 6: Singapore Electronic Legal Tender (SELT) – A Proposed Concept" (PDF). The Future of Money / Organisation for Economic Cooperation and Development. France: OECD Publications. pp. 147. ISBN 92-64-19672-2. http://www.oecd.org/ dataoecd/40/31/35391062.pdf. Retrieved on 2007-12-28. "The Board of Commissioners of Currency, Singapore (BCCS) was established on 7 April 1967 by the enactment of the Currency Act (Chapter 69). It has the sole right to issue currency notes and coins as legal tender in Singapore." [3] International Economics - Historical Exchange Rate Regime of Asian Countries The Chinese University of Hong Kong, Copyright 2000. Retrieved August 15, 2008. [4] "BCCS Merges with MAS on 1 October 2002". Monetary Authority of Singapore. 2002-09-30. http://www.mas.gov.sg/ 5 From Wikipedia, the free encyclopedia Preceded by: Malaya and British Borneo dollar Reason: Independence Ratio: at par Singapore dollar Succeeded by: Current Currency of Singapore, Brunei 1967 – Concurrent with: Brunei dollar news_room/press_releases/2002/ 1801-1991 (18th ed. ed.). Krause BCCS_Merges_with_MAS_on_1_October__30_September_2002.html. Publications. ISBN 0873411501. Retrieved on 2007-12-28. "The official • Pick, Albert (1994). Standard Catalog of merger of the Board of Commissioners of World Paper Money: General Issues. Colin Currency, Singapore (BCCS) with the R. Bruce II and Neil Shafer (editors) (7th Monetary Authority of Singapore (MAS) ed. ed.). Krause Publications. ISBN will take effect from 1 October 2002. 0-87341-207-9. Currency service will continue as usual and will be provided by the new Currency Department in MAS located at • Monetary Authority of Singapore Currency House." Exchange Policy • Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: External links Retrieved from "http://en.wikipedia.org/wiki/Singapore_dollar" Categories: Dollar, Currencies of Asia, Circulating currencies, Currencies of Singapore This page was last modified on 11 May 2009, at 08:01 (UTC). All text is available under the terms of the GNU Free Documentation License. (See Copyrights for details.) Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a U.S. registered 501(c)(3) taxdeductible nonprofit charity. Privacy policy About Wikipedia Disclaimers 6