1 Dollar of Singapore
History of the Singapore Dollar
The Singapore dollar (SGD) is the official currency of Singapore. It was first introduced in 1967, replacing the Malaysian dollar. The Singapore dollar is issued and managed by the Monetary Authority of Singapore (MAS), the country's central bank.
Design and Security Features
The 1-dollar coin of Singapore is made of bi-metallic material, with an outer ring made of nickel-brass and an inner circle made of copper-nickel. The coin has a diameter of 22.5 mm and weighs 9.3 grams.
The obverse (front side) of the coin features the national symbol of Singapore, the lion head, while the reverse (back side) features a stylized orchid, which is the national flower of Singapore.
The coin has several security features to prevent counterfeiting, including a latent image, micro-lettering, and a security thread.
Economic Importance
The 1-dollar coin is a common denomination in Singapore and is widely used in everyday transactions. It is also a popular denomination for savings and investments.
In recent years, the Singapore dollar has become a highly sought-after currency, with many investors and traders around the world seeking to invest in SGD-denominated assets.
Interesting Facts
- The Singapore dollar is one of the most traded currencies in the world, with a daily trading volume of over USD 500 billion.
- The 1-dollar coin is also a popular souvenir among tourists visiting Singapore.
- The Singapore dollar is pegged to a basket of currencies, including the US dollar, euro, and Japanese yen, to maintain its value and stability.
Conclusion
The 1-dollar coin of Singapore is a symbol of the country's economic strength and stability. With its rich history, advanced security features, and widespread use, it is an important part of Singapore's financial system. Whether you're a local resident or a visitor, the 1-dollar coin is definitely worth keeping an eye out for.
