The currency of Singapore is the Singapore dollar (SGD), written with the symbol S$ and divided into 100 cents. Issued and managed by the Monetary Authority of Singapore (MAS), the Singapore dollar is one of Asia's strongest and most stable currencies. As of 2026, one US dollar buys roughly 1.34 Singapore dollars, though the rate moves daily.
The Singapore Dollar at a Glance
The Singapore dollar carries the ISO currency code SGD and is commonly shown as S$ to distinguish it from other dollar currencies. Each dollar is split into 100 cents. In everyday use, Singaporeans often refer to it simply as "the dollar" or by the Malay word ringgit in older usage, though that term now belongs to neighbouring Malaysia.
- Official name: Singapore dollar
- ISO code: SGD
- Symbol: S$ (or simply $)
- Subunit: Cent, 1/100 of a dollar
- Issuing authority: Monetary Authority of Singapore (MAS)
What sets the currency apart is how it is managed. Rather than steering the economy by adjusting interest rates the way most central banks do, the MAS conducts monetary policy by managing the exchange rate of the Singapore dollar against a basket of the currencies of its major trading partners. This unusual approach suits a small, trade-dependent economy where imports and exports dwarf domestic activity.
Banknotes and Coins in Circulation
Singapore's current banknotes belong to the "Portrait" series, first introduced in 1999. Every note features Yusof bin Ishak, the country's first president, on the front, while the reverse celebrates themes such as education, garden city, sports, and government. The notes come in denominations of S$2, S$5, S$10, S$50, S$100, and S$1,000, each printed in a distinct colour to make them easy to tell apart.
- S$2: purple
- S$5: green
- S$10: red
- S$50: blue
- S$100: orange
- S$1,000: purple (issuance of new notes ceased in 2021)
Singapore was an early adopter of polymer banknotes in Asia, and lower denominations such as the S$2, S$5, and S$10 are printed on durable plastic rather than paper. Coins are issued in 5, 10, 20, and 50 cent pieces along with a S$1 coin. The latest "Third Series" coins, launched in 2013, depict national landmarks including the Esplanade and the Merlion. A high-value S$10,000 note once existed but was withdrawn from new issuance to reduce money-laundering risk.
History of the Currency
Singapore introduced its own dollar in 1967, two years after gaining independence. Before that, the territory used the Malaya and British Borneo dollar, a shared currency dating back to the colonial era. When the common currency arrangement with Malaysia and Brunei broke up, each began issuing its own money. In the same year, Singapore and Brunei signed a Currency Interchangeability Agreement that remains in force today, meaning the Singapore dollar and the Brunei dollar are accepted at par in both countries and can be used almost interchangeably. You can learn more about the nation behind it in our singapore country guide.
Using Money in Singapore
Singapore is one of the most cashless-friendly places in the world. Credit and debit cards, contactless taps, and mobile wallets are accepted almost everywhere, and the national PayNow and PayLah! systems let residents transfer money instantly using a phone number. Visitors will rarely struggle to pay by card.
That said, cash still matters in a few places. Hawker centres, traditional wet markets, and small neighbourhood shops often prefer notes and coins, and some only accept cash. ATMs are plentiful, and licensed money changers, concentrated in spots like Mustafa Centre, The Arcade near Raffles Place, and Change Alley, typically offer better exchange rates than airport counters or hotels. Because the Brunei dollar circulates at par, travellers occasionally receive Brunei notes as change.
Why the Singapore Dollar Is So Strong
The SGD's stability reflects Singapore's status as a leading global financial centre and its disciplined economic management. Large foreign reserves, consistent budget surpluses, low public debt, and the exchange-rate-based monetary framework all help keep the currency steady against the US dollar, the euro, and the Chinese yuan. For international banks, traders, and travellers, this predictability is one of the SGD's defining strengths and a reason it is widely held across Asia.
Frequently Asked Questions
What is the symbol for the Singapore dollar?
The Singapore dollar is written as S$, with the "S" distinguishing it from the US, Australian, and other dollars. In Singapore itself, a plain dollar sign ($) is often used since there is no ambiguity locally.
Can I use US dollars in Singapore?
Generally no. Singapore uses the Singapore dollar for everyday transactions, and most shops, restaurants, and taxis will not accept US dollars. You should change foreign cash at a money changer or simply pay by card, which converts automatically.
Is the Singapore dollar the same as the Brunei dollar?
They are not the same currency, but under a 1967 agreement the two are interchangeable at par. Singapore dollars are accepted in Brunei and Brunei dollars in Singapore, each treated as "customary tender" at equal value.
How many cents are in a Singapore dollar?
One Singapore dollar is made up of 100 cents. Coins are issued in 5, 10, 20, and 50 cent denominations, plus a one-dollar coin.