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The Singapore dollar (currency sign: S$; code: SGD) is the official currency of the Singapore. It is divided into 100 cents (, , ). It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.
As of 2024, the Singapore dollar is the 13th most traded currency in the world. Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei according to the Currency Interchangeability Agreement between the Monetary Authority of Singapore and the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam). Likewise, the Brunei dollar is also customarily accepted in Singapore.
Singapore continued to use the common currency upon joining Malaysia in 1963 and after Singapore's independence from Malaysia in 1965, but the formal monetary union between Malaysia, Singapore and Brunei stopped in 1967, and Singapore established the Board of Commissioners of Currency, Singapore (BCCS), on 7 April 1967Low Siang Kok, Director (Quality), Board of Commissioners of Currency, Singapore9789264196728, OECD Publications. . ISBN 9789264196728 and issued its first coins and notes. Nevertheless, the Singapore dollar was exchangeable at par with the Malaysian ringgit until 8 May 1973 under the Interchangeability Agreement, and interchangeability with the Brunei dollar is still maintained.
Initially, the Singapore dollar was pegged to the pound sterling at a rate of two shillings and four pence to the dollar, or £1 = S$60/7 or S$8.57; in turn, £1 = US$2.80 from 1949 to 1967 so that US$1 = S$3.06. This peg to sterling was broken in 1967 when the pound was devalued to US$2.40 but the peg to the U.S. dollar of US$1 = S$3.06 was retained. This peg remained for a short time after the Nixon Shock of the early 1970s. 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 to 1985.
Before 1970, the various monetary functions associated with a central bank were performed by several government departments and agencies. As Singapore progressed, the demands of an increasingly complex banking and monetary environment necessitated streamlining the functions to facilitate the development of a more dynamic and coherent policy on monetary matters. Therefore, the Parliament of Singapore passed the Monetary Authority of Singapore Act in 1970, leading to the formation of MAS on 1 January 1971. The MAS Act gave the MAS the authority to regulate all elements of monetary, banking, and financial aspects of Singapore.
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.
On 1 October 2002, the Board of Commissioners of Currency, Singapore (BCCS) merged with the Monetary Authority of Singapore (MAS), which took over the responsibility of banknote issuance.
In 2017, the government, in the second reading of the Monetary Authority of Singapore (Amendment) Bill 2017, announced that the Currency Fund will be merged with other funds of the MAS, because the currency in circulation is effectively backed by the full financial strength and assets of MAS, which is much larger than the Currency Fund. As at 31 March 2017, MAS's assets (S$395 billion) were more than seven times larger than the assets of the Currency Fund (S$55 billion). The proposed amendment will merge the Currency Fund with the other funds of MAS and streamline MAS's operations. The Government has said that its support for the currency in circulation, as set out in the Currency Act, remains unchanged.
Singapore's foreign reserves officially stood at over US$288.2 billion, as of July 2022 according to the MAS.
| 12 June 1967 | ||||||||
| 1976 | ||||||||
| 12 June 1967 | ||||||||
| Cupro-nickel clad steel | ||||||||
| 1971 | ||||||||
| 12 June 1967 | ||||||||
| A swordfish against a background symbolising water. | ||||||||
| A lionfish from tropical waters. | ||||||||
| A stylised Singapore lion symbol flanked by two stalks of paddy. | ||||||||
| 28 September 1987 | ||||||||
| 2 December 1985 | ||||||||
| 2 December 1985 | ||||||||
| Value and Calliandra surinamensis | ||||||||
| 2 December 1985 | ||||||||
| 28 May 1990 | ||||||||
| 28 September 1987 | ||||||||
| 5 cents | 16.75 | 1.22 | 1.70 | Brass-plated steel | Plain | Coat of arms; lettering: SINGAPURA சிங்கப்பூர் 新加坡 SINGAPORE | Esplanade; value | 25 June 2013 | |
| 10 cents | 18.50 | 1.38 | 2.36 | Nickel-plated steel | Interrupted reeding | Public housing; value | |||
| 20 cents | 21.00 | 1.72 | 3.85 | Reeded | Changi Airport; value | ||||
| 50 cents | 23.00 | 2.45 | 6.56 | Scalloped | Port of Singapore; value | ||||
| 1 dollar | 24.65 | 2.50 | 7.62 | Outer: Brass-plated steel | Reeded | Merlion; value; Vanda Miss Joaquim laser engraving | |||
| Inner: Nickel-plated steel | |||||||||
Each note has an orchid design in the centre of the note's front, the orchid being the national flower of Singapore. A scene of Singapore is depicted on the back, which varies across denominations. Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and chairman of the BCCS, on the front of the note. As an added security feature, all notes have at least one vertically embedded security thread, while the $10,000 note has two.
| $1 | 121 mm × 64 mm | Dark blue | Vanda Janet Kaneali | Blocks of flats in a housing estate | Lion's head | 12 June 1967 | 6 August 1976 | Limited | BWC | ||
| [4] | [5] | $5 | 127 mm × 71 mm | Green | Vanda T.M.A. | A busy scene on the Singapore River | |||||
| [6] | [7] | $10 | 133 mm × 79 mm | Red | Dendrobium Marjorie Ho "Tony Pek" | 4 clasped hands on a background of a map of Singapore | TDLR | ||||
| [8] | [9] | $25 | 140 mm × 79 mm | Brown | Renanthopsis Aurora | Supreme Court Building | 7 August 1972 | 6 August 1979 | |||
| [10] | [11] | $50 | 146 mm × 87 mm | Blue | Vanda Rothscildiana "Teo Choo Hong" | Clifford Pier | 12 June 1967 | 6 August 1976 | |||
| [12] | [13] | $100 | 159 mm × 95 mm | Mid-blue and mauve | Cattleya | A peaceful scene along the Singapore Waterfront | 1 February 1977 | BWC | |||
| [14] | [15] | $500 | 160 mm × 96 mm | Green | Dendrobium Shangri-La | Government Office at Saint Andrew's Road | 7 August 1972 | TDLR | |||
| [16] | [17] | $1,000 | 159 mm × 95 mm | Mauve and dark grey | Dendrobium Kimiyo Kondo "Chay" | Victoria Theatre & Empress Place | 12 June 1967 | 7 August 1978 | |||
| [18] | [19] | $10,000 | 203 mm × 133 mm | Green | Aranda Majulah | The Istana | 29 January 1973 | 1 February 1980 | |||
Each note features a bird on the left side of the note's front, a theme selected to represent a young Singapore "ever ready to take flight to greater heights". Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and chairman of the BCCS, on the front of the note. As an added security feature, all notes have a vertically embedded security thread, while the $1,000 and $10,000 notes have two.
| $1 | 125 mm × 63 mm | Blue | Black-naped Tern | National Day Parade | Lion's head | 6 August 1976 | 12 January 1987 | Limited | |||
| [21] | [22] | $5 | 133 mm × 66 mm | Green | Red-whiskered Bulbul | Aerial lift and aerial view of the harbour | 21 August 1989 | ||||
| [23] | [24] | $10 | 141 mm × 69 mm | Red | White-collared Kingfisher | Garden city with high rise public housing in background | 1 March 1988 | ||||
| [25] | [26] | $20 | 149 mm × 72 mm | Brown | Yellow-breasted Sunbird | Singapore Changi International Airport with the Concorde in the foreground | 6 August 1979 | 1 January 1991 | |||
| [27] | [28] | $50 | 157 mm × 75 mm | Blue | White-rumped Shama | School band on parade | 6 August 1976 | 9 March 1987 | |||
| [29] | [30] | $100 | 165 mm × 78 mm | Blue | Blue-throated Bee-eater | Dancers of various ethnic groups | 1 February 1977 | 1 August 1985 | |||
| [31] | [32] | $500 | 181 mm × 84 mm | Green | Black-naped Oriole | Oil Refinery | 1 March 1988 | ||||
| [33] | [34] | $1,000 | 197 mm × 90 mm | Purple | Brahminy Kite | Container terminal | 7 August 1978 | 22 October 1984 | |||
| [35] | [36] | $10,000 | 203 mm × 133 mm | Green | White-bellied sea-eagle | 2 scenes of the Singapore River | 1 February 1980 | 21 August 1989 | |||
A maritime theme to reflect Singapore's maritime heritage was adopted, and progressively shows across the various denominations, the different kinds of ships which have plied Singapore's waters as the country developed. These vignettes are located on the front of the note. On the back, various scenes depicting Singapore's achievements are shown, as well as an orchid, to symbolise the country's national flower.
Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and chairman of the BCCS, on the front of the note. As an added security feature, all notes have a vertically embedded security thread.
| [38] | [39] | $1 | 125 × 63 | Blue | Sha Chuan (junk ship) | Sentosa Satellite Earth Station | 12 January 1987 | 9 September 1999 | |
| [40] | [41] | $2 | 133 × 63 | Red | Tongkang (barge vessel) | Chingay parade | 28 January 1991 | ||
| [42] | [43] | Purple | 16 December 1991 | ||||||
| [44] | [45] | $5 | 133 x 66 | Green | Twakow (lighter vessel) | PSA container terminal | 21 August 1989 | ||
| [46] | [47] | $10 | 141 × 69 | Red | Palari (barter trading vessel) | Public housing | 1 March 1988 | ||
| [48] | [49] | $50 | 156 × 74 | Navy blue | Perak (coaster vessel) | Benjamin Sheares Bridge | 9 March 1987 | ||
| [50] | [51] | $100 | 165 × 78 | Brown | SS Chusan (passanger liner) | Changi International Airport; Singapore Airlines Boeing 747 | 1 August 1985 | ||
| [52] | [53] | $500 | 175 × 83 | Lime green | Neptune Sardonyx (general cargo vessel) | Armed Forces and Civil Defence Force members | 1 March 1988 | ||
| [54] | [55] | $1,000 | 185 × 88 | Purple | Neptune Garnet (container ship) | Shipyard | 22 October 1984 | ||
| [56] | [57] | $10,000 | 195 × 93 | Red | Neptune Canopus (general bulk carrier) | National Day parade (1987) | 21 August 1989 | ||
| $2 | 126 × 63 | Paper | Violet | Yusof bin Ishak; Monetaria moneta | Education | 9 September 1999 | 12 January 2006 | |||
| Polymer | 12 January 2006 | Current | ||||||||
| $5 | 133 × 66 | Paper | Green | Yusof bin Ishak; Gold ring cowrie | Garden City | 9 September 1999 | 18 May 2007 | |||
| Polymer | 18 May 2007 | Current | ||||||||
| $10 | 141 × 69 | Paper | Red | Yusof bin Ishak; Erronea errones | Sports | 9 September 1999 | 4 May 2004 | |||
| Polymer | 4 May 2004 | Current | ||||||||
| $50 | 156 × 74 | Paper | Blue | Yusof bin Ishak; Cylindrical cowrie | Arts | 9 September 1999 | ||||
| $100 | 162 × 77 | Orange | Yusof bin Ishak; Swallow cowrie | Youth | ||||||
| $1,000 | 170 × 83 | Purple | Yusof bin Ishak; Beautiful cowrie | Government | 1 January 2021 | |||||
| $10,000 | 180 × 90 | Brown | Yusof bin Ishak; Erronea onyx | Economics | 1 October 2014 | |||||
The S$10,000 and Brunei dollar10,000 note are the world's most valuable banknotes (that are officially in circulation). As of August 2011, it is worth over seven times as much as the next most valuable, the 1,000-Swiss franc note. On 2 July 2014, the Monetary Authority of Singapore announced that it would stop printing $10,000 notes starting from 1 October 2014 to reduce the risk of money laundering, with all banks instructed to exchange the notes with MAS and not recirculate them. This is a trend in many countries like European Central Bank's discontinuation of the 500-euro banknote in 2016 and AMBD's announcement to stop the production and issuance of the B$10,000 (the largest banknote) in 2020 amid the COVID-19 pandemic. MAS would also stop producing the S$1,000 banknote as well from 1 January 2021 onwards, but banks would be allowed to recirculate existing notes with customers. The MAS said that the higher denomination notes (beyond $100) will continue to remain legal tender.
On 8 December 1999, to celebrate the coming 2000 millennium, three 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. These millennium notes are printed on paper as polymer notes had not yet been introduced at the time.
On 27 June 2007, to commemorate 40 years of currency agreement with Brunei, a commemorative S$20 note was launched; the back is identical to the Bruneian $20 note launched simultaneously. A circulation version of the $20 note can be exchanged at banks in Singapore beginning 16 July 2007, limited to two pieces per transaction.
On 18 August 2015, to commemorate Singapore's 50 years of nation-building, the Monetary Authority of Singapore launched a set of six commemorative notes. These commemorative notes comprise five S$10 polymer notes and a S$50 note. The note design's draw inspiration from significant milestones and achievements in Singapore's history, the multiracialism that defines the nation and the values and aspirations that underpin Singapore's progress. The front of both the $50 and $10 notes feature a portrait of Yusof Ishak, Singapore's first president, as in the current Portrait series notes. The $50 note highlights Singapore's history, transformation and future. It shows the late Prime Minister of Singapore, Lee Kuan Yew, shouting "Merdeka!"—the rallying cry of Singapore's independence struggle. The note makes distinctive use of the colour gold, reflecting Singapore's Golden Jubilee. The five $10 notes have a common front design and varying back designs depicting the theme 'Vibrant Nation, Endearing Home'. Each note reflects a value or aspiration that defines the theme: 'Caring Community, Active Citizenry', 'Opportunities for All', 'Safe and Secure', 'Strong Families' and '...regardless of race, language or religion...'.
In 2017, to commemorate the 50th anniversary of its Currency Interchangeability Agreement between Brunei and Singapore, both the Monetary Authority of Brunei Darussalam and the Monetary Authority of Singapore issued $50 polymer banknotes to commemorate that event.
On 5 June 2019, a $20 note commemorating the Singapore Bicentennial was issued.
| $50 | 156 × 74 mm | Red | 25th Anniversary of the Independence of Singapore | Optically variable device shows President Yusof bin Ishak, Singapore Harbour in 1861, four blossoms of the "Vanda Miss Joaquim" orchid, Tanjong Pagar container port and some prominent office buildings | 1st Parliament of Singapore held on 8 December 1965 and group of multi-racial Singaporeans in jubilant celebration | 24 July 1990 | Polymer | |||
| $25 | 141 × 79 mm | Brown | 25th Anniversary of the Monetary Authority of Singapore | Monetary Authority of Singapore Building set against a view of Singapore's financial district and scene of the SIMEX trading floor | Singapore's financial sector skyline | 10 May 1996 | Paper | |||
| $20 | 149 × 72 mm | Orange | 40 Years of the Currency Interchangeability Agreement | President Yusof bin Ishak and the "Dendrobium Puan Noor Aishah" orchid | The Esplanade, skyline of Singapore's financial district and the Omar Ali Saifuddien Mosque with the Royal Barge and the water village shown | 27 June 2007 | Polymer | |||
| $50 | 156 × 74 mm | Gold | SG50: Celebrating Singapore's 50 years of nation-building | President Yusof bin Ishak, Prime Minister Lee Kuan Yew and a group of children of different races and gender | First National Day Parade 1966 and the Punggol New Town | 11 August 2015 | Polymer | |||
| $10 | 141 × 69 mm | Red | President Yusof bin Ishak and the "Vanda Miss Joaquim" orchid | "…regardless of race, language or religion…" | 11 August 2015 | Polymer | ||||
| $10 | 141 × 69 mm | Red | "Opportunities for All" | 11 August 2015 | Polymer | |||||
| $10 | 141 × 69 mm | Red | "Safe and Secure" | 11 August 2015 | Polymer | |||||
| $10 | 141 × 69 mm | Red | "Strong Families" | 11 August 2015 | Polymer | |||||
| $10 | 141 × 69 mm | Red | "Caring Community, Active Citizenry" | 11 August 2015 | Polymer | |||||
| $50 | 158 × 75 mm | Gold | 50 Years of the Currency Interchangeability Agreement | President Yusof bin Ishak, the "Vanda Miss Joaquim" orchid, the "Simpur" flower and the window security feature showing Brunei Darussalam's Istana Nurul Iman and Singapore's Istana Singapore | Military personnel from the Royal Brunei Armed Forces and the Singapore Armed Forces, students from both countries, Brunei Darussalam's Ulu Temburong National Park and Singapore Botanic Gardens | 5 July 2017 | Polymer | |||
| $20 | 162 × 77 mm | Beige-Peach | Singapore Bicentennial | President Yusof bin Ishak, National Gallery Singapore (former Supreme Court and City Hall) | Eight pioneering individuals, namely Munshi Abdullah, Henry Nicholas Ridley, Tan Kah Kee, P. Govindasamy Pillai, Teresa Hsu, Alice Pennefather, Adnan Saidi and Ruth Wong Hie King, portrayed against a backdrop of the Singapore River | 5 June 2019 | Polymer | |||
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