Glossary Term

SGD

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SGD is the currency abbreviation for Singapore’s official currency, the Singapore dollar. It is made up of 100 cents. Further segmentation of the Singapore dollar include banknotes of S$2, 5, 10, 20, 100, 1000 and 2000, as well as coins for 1, 5, 10, 20, 50 and S$1 coins. Firstly circulated in 1967 the SGD is one of the most traded currencies in the world falling slightly behind its Asian counterparts, the Japanese yen and the Chinese Renminbi. In its early days, it was tied to the British pound, then to the USD and for a period between 1973 and 1985 to a hidden basket of foreign currencies. An interesting fact about the Singapore dollar is that it remains interchangeable with the Brunei dollar.

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What is SGD? A Traders Expert explanation

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