Saturday, August 2, 2008

Brief History of Singapore Banknote

Prior to obtaining its independence in 1965, Singapore was part of Malaya which it used common circulation notes, Malayan Dollars from 1939 to 1952 as well as the Malaya and British Dollars from 1953 to 1967 and during the occupation of Japanese Government in 1942, Japanese Occupation Notes were widely circulated.

Despite its independence in 1965, Singapore continued to use Malaya and British Dollars until 7 April 1967 when the Board of Commissioners of Currency took over the issuance of the currency. Singapore currency issued in 1967 was at par value with Malaysia Ringgit. The Interchangeability Agreement of 1967 between Brunei, Malaysia, and Signore provided that effective 12 June 1967, banks and monetary authorities in each country would accept the notes and coins of the other two countries without charging exchange fees.

The Board of Commissioners of Currency, Singapore was dissolved in 2002 and it was replaced by Monetary Authority of Singapore.

To date, Singapore has issued four series of currency notes for circulation. The first was the "Orchid" series, the second was the "Bird" series, the third was the "Ship" series and the current fourth is the "Portrait" series. It has also issued its the first polymer note of $50 denomination in 1990.

1st Series : Front features the Singapore national emblem and Orchid -Vanda Janet Kaneali

1 st Series : Back features the Blocks of flats in a housing estate

1 comment:

BuBbLeS said...

found ur blog from a friend. seriusly nice blog. my grandpa collects but not the buy from BankNegara one, just those he kept from the time he was young. and i continues. but never know the history of all this. thanks for sharing.

mind if i link u?

thanx. =)