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The Singapore Dollar (SGD), S$, is Singapore's official currency and a critical element of the nation's economic framework. Introduced in 1967, it replaced the Malaya and British Borneo dollar following Singapore's independence and has since become one of the world's most stable and widely respected currencies.
The SGD is divided into 100 cents and is available in coin and note forms. It features iconic Singaporean symbols like the Merlion, the country's symbolic lion-headed fish.
The Monetary Authority of Singapore (MAS) is responsible for issuing and managing the currency, ensuring its stability through a carefully crafted exchange rate policy that pegs the SGD against a basket of currencies rather than just one.
As a leading global financial hub, Singapore's economy is intricately linked with international trade and finance, making the SGD a key player in global forex markets. Singapore's strong economic fundamentals, including its high GDP per capita, low inflation, and robust financial regulatory framework, support the currency's stability and strength.
This makes the SGD a preferred currency for investors and traders seeking a stable and reliable store of value.
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