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.
16/12/2016: Demonetization of 50 Rupee Note
The 50 Rupee banknote was demonetized, leading to widespread confusion and inconvenience as people rushed to exchange their old notes.
13/10/2016: Celebrating 50 Years of Currency
Singapore commemorates 50 years of Singapore currency, showcasing the success and stability of the SGD.
01/01/2010: Decimalization of Rupee
The Rupee was decimalized, with the introduction of coins denominated in cents, replacing the previous system of cents represented as a fraction of a Rupee.
17/08/2005: Series of New Banknotes
A new series of banknotes featuring improved security features and a more vibrant design was introduced to combat counterfeiting.
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.
01/06/2001: Introduction of 10 Rupee Coin
The 10 Rupee coin was introduced, replacing the 10 Rupee banknotes, to reduce the cost of production and improve durability.
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.
01/07/1977: Floating Exchange Rate
Sri Lanka shifted to a floating exchange rate regime, allowing the value of the Rupee to fluctuate based on market forces.
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.
22/05/1972: Ceylon becomes Sri Lanka
The country changes its name from Ceylon to Sri Lanka, and the currency is renamed Sri Lankan Rupee (LKR).
12/06/1967: Monetary Agreement with Malaysia
Singapore withdrew from the Malaysian dollar and issued its own currency.
22/06/1966: Introduction of the Ceylon Rupee
The Ceylon Rupee was established as the official currency of Sri Lanka, replacing the Indian Rupee at a rate of 1:2.
12/06/1965: Independence of Singapore
The Singapore dollar (SGD) is introduced as the official currency upon Singapore's separation from Malaysia.