Singapore Dollar (SGD)
The Singapore Dollar is the official currency of the Republic of Singapore. Issued and managed by the Monetary Authority of Singapore (MAS), it is widely regarded as one of the most stable and trusted currencies in Asia.
Key Facts
Currency code
SGD
Symbol
S$
Central bank
Monetary Authority of Singapore (MAS)
Pegged to
Trade-weighted basket (managed float)
Introduced
1967
Subunit
Cent (1/100)
History & Background
The Singapore Dollar was introduced in 1967, replacing the Malaysian dollar at par. Singapore previously shared a common currency with Malaysia and Brunei under the Interchangeability Agreement, which ended in 1973. Since then, the SGD has been independently managed, gaining a reputation for stability and prudent monetary policy.
Monetary Policy
Unlike most central banks that use interest rates as their primary policy tool, the Monetary Authority of Singapore manages the SGD through the exchange rate. MAS adjusts the rate of appreciation or depreciation of the SGD nominal effective exchange rate (S$NEER) against a trade-weighted basket of currencies. This approach helps manage inflation in a highly open, trade-dependent economy.
Role in Global Finance
Singapore is one of the world's leading international financial centres. The SGD is actively traded in foreign exchange markets globally, and Singapore hosts the fourth-largest foreign exchange trading hub in the world. The currency is backed by substantial foreign exchange reserves, consistently ranking among the highest per capita globally.
Banknotes & Coins
SGD banknotes are issued in denominations of S$2, S$5, S$10, S$50, S$100, S$1,000 and S$10,000. Coins circulate in denominations of 5¢, 10¢, 20¢, 50¢, and S$1. The notes feature iconic Singapore landmarks and cultural symbols, reflecting the nation's multicultural heritage.