Singapore Dollar (SGD)

QUOTE AND NEWS
The Straits Times  Mar 10  Comment 
March 11, 2015 2:01 AM THE central bank is unlikely to further slow the appreciation of the Singapore dollar at its scheduled policy meeting next month, even though growth remains tepid, some economists say.
Channel News Asia  Mar 10  Comment 
TODAY reports: The slower appreciation of the Singapore dollar is not expected to alter the Republic’s inflation forecasts, especially with global oil prices remaining weak, said Minister for Trade and Industry Lim Hng Kiang.
Wall Street Journal  Jan 28  Comment 
Stocks in Asia were mostly lower as investors awaited a U.S. Federal Reserve statement for clues on higher interest rates, while the Singapore dollar hit a 4 ½ year low after the central bank eased policy.
Bloomberg  Jan 28  Comment 
Singapore Dollar Sinks on Easing as Index Futures Gain Singapore’s dollar hit its weakest level since 2010 after the central bank unexpectedly eased monetary policy....
Bloomberg  Jan 28  Comment 
Singapore unexpectedly eased monetary policy, sending the currency to the weakest since 2010 against the U.S. dollar as the country joined global central banks in shoring up growth amid dwindling inflation.
Channel News Asia  Jan 28  Comment 
The Monetary Authority of Singapore (MAS) says in its monetary policy statement that it will reduce the slope of the Singapore Dollar Nominal Effective Exchange Rate policy band to slow the appreciation of the currency.
Benzinga  Jan 26  Comment 
Tiger Airways Holdings (OTC: TAIRF) posted a net profit for the three months ended December. Tiger Airways swung to a quarterly net profit of 2.2 million Singapore dollars (US$1.64 million), versus a year-ago net loss of S$118.5 million. Its...
Channel News Asia  Jan 20  Comment 
At around 5pm on Tuesday (Jan 20), Reuters data showed the Singapore dollar hit an intraday high of 2.7019 against the Malaysian ringgit.
Channel News Asia  Jan 6  Comment 
Bank of Singapore expects the Sing dollar to hit within a range of S$1.35 to S$1.40 against the US dollar by the end of 2015.




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The Singapore Dollar is the currency used in Singapore and replaced the Malaya and British Borneo dollar upon its independence from Malaysia. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

The $10000 note is one of the world's largest single notes in terms of real value.

Initially, the Singapore dollar was pegged to the British pound sterling at a rate of S$60 = £7. This peg lasted until the demise of the Sterling Area in the early 1970s, after which the Singapore dollar was linked to the US dollar for a short period of time. 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. 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. All issued Singapore dollar currency in circulation is fully backed by international assets to maintain public confidence.[1] The foreign reserves officially stand at over US$230 billion - as of May 2011.

The chart at left shows the USD/SGD currency pair; the number of Singapore Dollars equivalent to 1 U.S. Dollar (USD).

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