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.
15/01/2019: Introduction of New Banknotes
New series of banknotes with enhanced security features and improved designs were introduced by the Maldives Monetary Authority.
13/10/2016: Celebrating 50 Years of Currency
Singapore commemorates 50 years of Singapore currency, showcasing the success and stability of the SGD.
01/09/2014: Introduction of Polymer Banknotes
Polymer banknotes were introduced in the Maldives, replacing the traditional paper banknotes, enhancing their durability and security features.
01/07/2011: Redenomination of the Rufiyaa
The Maldivian Rufiyaa underwent redenomination, with new banknotes and coins introduced to simplify transactions and reduce the number of zeros.
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.
01/01/2002: Decimalization of the Rufiyaa
The Maldivian Rufiyaa was decimalized, with 100 laari equaling 1 Rufiyaa, replacing the previous system of 1 Rufiyaa equalling 100 lari.
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.
01/09/1983: Introduction of the Maldivian Rufiyaa
The Maldivian Rufiyaa was introduced as the new currency, replacing the Maldivian Rupee at a 1:1 exchange rate.
01/09/1981: Establishment of the Maldives Monetary Authority
The Maldives Monetary Authority (MMA) was established as the central bank of the Maldives, responsible for issuing and managing the currency.
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.
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.
22/10/1947: Introduction of the Maldivian Rupee
The Maldivian Indian Rupee was adopted as the official currency of the Maldives, replacing the Ceylonese Rupee.