Singapore dollar

1 EUR = 1.7314 SGD 1 SGD = 0.57757 EUR

1 CHF = 1.4189 SGD 1 SGD = 0.70475 CHF

The Singapore dollar is the currency of Singapore.

The Board of Commissioners of Currency, Singapore ( BCCS ) has surrendered the sole right to issue banknotes and coins. The Singapore dollar is a freely traded currency, which is monitored by a basket of other currencies by the Authority Monetary Authority of Singapore. Which currencies is composed of, is kept secret to prevent speculators attack the currency or pressure on the Singapore dollar can be exerted from the outside.

The Singapore dollar has a fixed exchange rate of 1:1 with the Brunei dollar. The notes and coins of both states are legal tender in the other State.

Historical

After the exclusion of Singapore from the Federation of Malaysia in 1965, there was a monetary union with Malaysia and Brunei for two more years. Differences over the design of the monetary union, particularly with regard to the Central Bank and the degree of independence, led in 1967 to a fraction of the monetary union.

The three countries issued henceforth own national currencies, which were, however, bound with a fixed exchange rate of 1:2,40 pounds sterling based on the Currency Inter Chang Ability Arrangement ( CIA). This is the reason that until 1973, the Malaysian ringgit and the Brunei Dollar transitional in Singapore, and the Singapore dollar was also accepted in Malaysia and Brunei. In 1973, the Bretton Woods system of fixed exchange rates and the gold bond of the U.S. dollar was abolished, which the United Kingdom led to a devaluation of its currency. Malaysia took the opportunity and resigned from the CIA, so that interchangeability was maintained only with Brunei.

Bills

Previously released four banknotes series ( called orchid, bird, ship or portrait series ). Currently in circulation is the portrait series, published in 1999. Chance to get even notes the ship series. Since 1990, the paper notes will be gradually replaced by banknotes of a polymer, last appeared on 18 May 2007, the five - dollar bill. In addition, in June 2007, a 20 - dollar commemorative banknote, also published in Polymer. The reverse shows a common motif, the front leans on the design of the circulating notes of both countries Singapore and Brunei. Instead of a watermark possess this a delicately printed transparent window.

The Portrait Series is available in the levels 2, 5, 10, 50, 100, 1,000 and 10,000 SGD. The $ 10,000 bill is in regular circulation, but is used mainly in transactions between banks, in everyday life it does not matter. The gradations of the other series are slightly different (for example 20 - $ note). The current series shows on the front of the portrait of Inche Yusuf bin Ishaq, the first President of the Republic of Singapore. The back stylized bourgeois values :

$ 2 - "Education / School "
$ 10 - "Sport"
$ 50 - "Art "
$ 100 - "Youth"
$ 1,000 - "government"
$ 10,000 - " Economy"

The coins in the value of levels 1, 5, 10, 20 and 50 cents and $ 1 will be divided into first (animals ) and second ( Flora) series. The first series was released on 20 November 1967, and symbolized by their motives break with the colonial past. Previously, the coins had shown on the lapel of the image of the British monarch. The coins of the second series were introduced between 1985 and 1987. On the value side of local plants and flowers are shown. On the back is the coat of arms of Singapore. The end of 2002 the coinage of the one - cent coin has been set. This was due to the low return rate, because most of the coins were lost. The trade rounds since then on the next 5-cent point up or down. It is interesting that even at this time from the vaults of the banks one - cent coins of the first series were issued.

Summary and resources

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