30/03/2020: SGD in COVID-19 Pandemic
The SGD faces volatility and fluctuations in value due to the economic impact of the COVID-19 pandemic.
13/10/2016: Celebrating 50 Years of Currency
Singapore commemorates 50 years of Singapore currency, showcasing the success and stability of the SGD.
28/07/2016: Bank of Japan announces stimulus package
The Bank of Japan announced an aggressive stimulus package and negative interest rates, causing the Yen to depreciate against major currencies.
11/03/2011: Great East Japan Earthquake
The Tohoku earthquake and tsunami devastated Japan, leading to a decline in the Yen as reconstruction efforts strained the economy.
15/09/2008: Lehman Brothers bankruptcy
The bankruptcy of Lehman Brothers triggered a global financial crisis, resulting in a surge in the value of the Yen as investors sought safe-haven assets.
21/07/2003: Currency Interchangeability Agreement with Brunei
The SGD and Brunei dollar become interchangeable at par value, enhancing economic cooperation between the two countries.
02/01/2001: Floatation of SGD
Singapore allows the SGD to float freely against other currencies, abandoning the exchange rate peg and adopting a managed float system.
20/03/1995: Kobe earthquake
The Great Hanshin earthquake struck Kobe, causing significant damage to the Japanese economy and leading to a decline in the value of the Yen.
22/09/1985: Plaza Accord
Japan, along with major economies, agreed to depreciate the value of the US dollar, leading to the appreciation of the Yen.
01/03/1973: Pegging to a Basket of Currencies
The SGD is pegged to a basket of currencies, leading to increased stability and reduced reliance on a single currency.
01/03/1973: Yen becomes a floating currency
The Yen lost its fixed exchange rate and started floating against major currencies following the collapse of the Bretton Woods system.
12/06/1967: Monetary Agreement with Malaysia
Singapore withdrew from the Malaysian dollar and issued its own currency.
12/06/1965: Independence of Singapore
The Singapore dollar (SGD) is introduced as the official currency upon Singapore's separation from Malaysia.
15/12/1953: Yen is introduced
The Japanese Yen was first introduced as the official currency of Japan with the enactment of the Bank of Japan Act.