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.
23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
13/10/2016: Celebrating 50 Years of Currency
Singapore commemorates 50 years of Singapore currency, showcasing the success and stability of the SGD.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
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.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
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.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
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.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.