Singapore Dollar

The Singapore Dollar (SGD) is the official currency of Singapore. It is abbreviated as S$ to distinguish it from other dollar-denominated currencies.

History

The Singapore Dollar was introduced in 1967, replacing the Malaya and British Borneo dollar at par. The key features of the Singapore Dollar include:

• Abbreviation: SGD
• Symbol: S$
• Subunit: Cent (1 SGD = 100 cents)

Currency Issuance

The Monetary Authority of Singapore (MAS) is responsible for issuing the Singapore Dollar and managing the monetary policy of Singapore. The currency notes come in various denominations:

• $2
• $5
• $10
• $50
• $100
• $500
• $1,000

Current Value

As of the latest reports, the exchange rate of the Singapore Dollar against major currencies is:

• 1 SGD = 0.74 USD
• 1 SGD = 0.62 EUR

Conclusion

The Singapore Dollar plays a critical role in Singapore's economy and is considered one of the strongest currencies in Asia.