1967 origin
Foundation
After the Currency Board era shared with Malaysia, Singapore issued its own dollar in 1967 under the Board of Commissioners of Currency.
Singapore dollar did not appear fully formed. After the Currency Board era shared with Malaysia, Singapore issued its own dollar in 1967 under the Board of Commissioners of Currency.
Later reforms — decimalisation, central-bank charters, pegs and floats — matter as much as the founding date for how the unit behaves now.
Where it began
1967Singapore
After the Currency Board era shared with Malaysia, Singapore issued its own dollar in 1967 under the Board of Commissioners of Currency.
Timeline
1967Own dollar
Singapore issues SGD.
1973Float basket
Managed float framework evolves.
1981MAS focus
Exchange-rate centred policy.
1985Recession
Policy adjusts after slump.
1997Asian crisis
SGD holds vs regional peers.
2002Note series
Portrait series continues evolution.
2014Polymer
Polymer notes expand.
2019Payment stack
PayNow and fast rails deepen.
2020Pandemic
MAS eases via slope of NEER.
2023Strong SGD
Policy keeps appreciation bias vs inflation.
The eras
Classical period
Establishment
Singapore dollar became embedded in trade, tax and daily prices in its core territory.
Twentieth century
Modernisation
Central banking, note series and FX regimes modernised how the unit worked.
Late century shocks
Stress & reform
Crises and reforms redefined convertibility, pegs or floats.
Today
Digital era
Cards, instant payments and CBDC debates reshape how balances move.
Major reforms
Founding statute
1967Legal creation or major restatement of Singapore dollar as a unit of account.
Modern central bank framework
20th c.Monetary Authority of Singapore (or its predecessor) took primary responsibility for note issue and monetary stability.
FX regime shift
late 20th c.Peg, basket or float arrangements were redefined as capital flows and inflation targets evolved.
Understanding Singapore dollar starts with its legal birth and the crises that forced redesigns of convertibility and trust.
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