Singapore – Banknote History

The Republic of Singapore is an island state that lies in maritime Southeast Asia, off the southern point of the Malay Peninsula. This sovereign city-state is surrounded by the Straits of Malacca, the Riau Islands, and the South China Sea. Singapore has a multiracial population with cultural diversity instilled in its constitution and has been shaping its government policies in terms of housing, education, and politics.

Founded as a British Empire’s trading post by Sir Stamford Raffles in 1819, modern Singapore has a highly developed economy and has been attracting foreign investors and experienced workers alike. The Singapore dollar is the city-state’s official currency. The currency was first introduced in 1965, following the collapse of the monetary union between Brunei and Malaysia.

First Official Singapore Dollars

The first Singapore dollar banknotes were issued by the Board of Commissioners of Currency from 1967 to 1976. These are the Orchid Series featuring a spray of Singapore’s national flower orchid in the center of its obverse along with the national emblem. Between 1976 and 1980, the financial institution issued another set of banknotes called the Bird Issues. These notes depict birds that are well-known for their independence, strength, and adaptability. They are characters that best represent the young Republic of Singapore.

The Ship Series was released by the Board of Commissioners of Currency between 1984 and also 1997. They celebrated the contribution of merchant shipping to the development of the state. These notes feature maritime vessels that have sailed through the seas of Singapore. Another family of notes begins to circulate in 1999,it bears the portrait of the nation’s first president, Encik Yusof bin Ishak on the front. The back of the notes depicts themes that are relative to the president’s life.

The Board of Commissioners of Currency Singapore consolidated with the Monetary Authority of Singapore and took over the issuance of paper bills. In addition it released a set of banknotes between 2004 and 2015. They beard the same design as that of the preceding issues but showing the new issuer name. In 2006, the bank started issuing banknotes on polymer.