The Singapore dollar symbol: S$; code: SGD; also abbreviated SG$; referred to as the dollar, SG dollar, or Singaporean dollar is the official currency of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore issues the banknotes and coins of the Singapore dollar.
The Singapore dollar (SGD) is the official currency of Singapore. It is used in both Singapore and Brunei. 1 US dollar will buy you around 1.36 Singaporean dollars. The Singapore dollar is an expensive currency that is the 13th most traded currency on the foreign exchange market, accounting for around 1.8% of daily forex trades.
As of 2020, the Singapore dollar is the thirteenth-most traded currency in the world by value and one of the strongest valued currencies in the Asia-Pacific. Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei according to the currency interchangeability agreement Between the monetary authority of Singapore and the autoriti monetari Brunei Darussalam Likewise, the Brunei dollar is also customarily accepted in Singapore.
This currency is also known as the loonie, the loonie being a bird that is imprinted on its coin. Singapore Dollar is not so rich in natural resources but still is a strong currency and plays a major role in the global economy. Among all the ASEAN (Association of Southeast Asian Nations), Singapore is the richest country.
