Those who ask about what is the currency of Singapore must know that this currency has been widely known and even often used. Not only by local Singaporeans but also by residents from outside Singapore.
Moreover, if foreign tourists come to this country and stay for some time, then all kinds of transactions will be done using this currency from Singapore. So that the currency of this country is familiar for the citizen and the tourists.
This currency is also known to everyone who exists in every country. Especially for those that have been several times visited Singapore. Moreover, for those who are currently settling in this country to do any jobs or business.
However, still several people feel curious about what currency has ever circulated in this country. To find out more about Singapore’s currency, you can see the explanation below.
For those of you who live in the present, you may only know about the currency from Singapore that is currently used. But you might not be knowing that this currency is also created from a series of history or history. It is known that at first, the Singapore currency had other names. The first currency of Singapore was the Strait Dollar.
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At first, the Strait Dollar was the currency for Singapore from 1845 to 1939. Even though it sounds unique but the Strait Dollar was Singapore’s first currency. This Strait Dollar is used as a currency for several strait countries. This happened precisely from 1898 to 1939.
The Use of Strait Dollar
This currency is not only used by Singapore but also by some countries around Singapore. Starting from the Allied Malay States and the Non-Allied Malay States, Sarawak and Brunei, and not forget also British North Borneo which also uses the Strait Dollar currency. However, although the Strait Dollar circulated quite a lot, in the early 19th century the Spanish Dollar was more widely used.
The Spanish dollar is even used in the East Indies region. The Spanish dollar even remained in circulation even at that time there were also other currencies such as the Indian Rupee. Then in 1867, the management of the Strait was separated from India. So in the end, the dollar was used as a standard currency. Precisely in 1898, the Board of Commissioners of Currency publish Strait Dollar. The form is in the form of banknotes with a unique look.
British Malaya and Borneo Dollars
In 1939 the Strait Dollar was replaced by the Malaya Dollar with an equivalent value. Then precisely in 1953, this currency was replaced with the Malayan Dollar and British Borneo. The Malaya dollar and British Borneo are issued by the Board of Commissioners of Currency. In addition, Malaya and British Borneo also issued this currency. The appearance is no less interesting than the previous Singapore currency.
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This Malaya dollar and British Borneo currency have an image of Malay fishermen. So this currency has its characteristics. This is following the time experienced by Singapore at that time. At that time Singapore and some of the surrounding areas were in the period of British occupation. But in 1965, Singapore split from Malaysia. So that it was at this time that Singapore changed its currency.
The currency that once occurred in Singapore is still growing and changing. After the Strait Dollar then the Malayan dollar and British Borneo turned out that there were still more Singaporean currencies in the past.
The currency of Singapore after the Straits Dollar as well as the Malayan and British Borneo Dollar is named Orkid. The first currency series of the Orkid was issued in the mid-19th century.
Serial expenditure of this currency was precisely carried out on June 12, 1967. At that time Singapore established a Board of Commissioners of the Currency of Singapore.
After going through a long history, the currency, in the end, came to the Singapore Dollar. This Singapore Dollar is the latest current currency of Singapore. This Singapore Dollar currency has the international code SGD. Of course, this SGD international code has been widely seen by the world. No wonder this currency is known in several other countries.
The Singapore dollar is not only synonymous with the international code SGD. But this Singapore currency also has an international symbol, namely S$. This currency is printed by the Monetary Authority of Singapore. The use of this currency is also regulated by the Monetary Authority of Singapore.
Often the Singapore currency called the Dollar is associated with the dollar currency of other countries even though the exchange rate of the Singapore Dollar is different from others for example from the US Dollar. Regarding the denomination of the Singapore Dollar, it is coins and banknotes. For coins in circulation ranging from 1 cent to 1 dollar. While banknotes are circulating from 2 SGD to 10,000 SGD.
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What is the currency of Singapore might be at first makes you feel curious. But of course, all the uses of all currencies including the currency of this country can be used as a means of payment precisely in Singapore. Align with the explanation above, the history and the name of Singapore’s currency are pretty unique. Furthermore, it has a strong bargain in the global money market.