The Singapore dollar (SGD) is the official currency of Singapore. It is divided into 100 cents and is abbreviated as S$ or SGD$. The Monetary Authority of Singapore (MAS) which is the central bank of Singapore, issues Singapore dollars. Singapore dollars are widely accepted in other countries in Southeast Asia, and can be exchanged for other currencies at banks and foreign exchange dealers.Singapore dollar is considered as a strong currency and it is pegged to a basket of currencies, which includes US dollar, Euro, Japanese Yen, and British Pound. The central bank, MAS, uses the exchange rate policy to maintain the stability of the Singapore dollar.Singapore dollar coins come in denominations of 1, 5, 10, 20, and 50 cents, and $1 and $2. Banknotes come in denominations of $2, $5, $10, $50, $100, $1000.Singapore dollar is also used in the nearby countries of Brunei and East Timor as a form of legal tender. Singapore economy is strong, stable and open economy which makes Singapore dollar as a good choice for investing and trading.
