Understanding the Singapore Dollar: FAQs

The Singapore Dollar (SGD) is the official currency of Singapore, a bustling city-state known for its economic vibrancy and cultural diversity. If you're planning a trip to Singapore or dealing with transactions in SGD, here are some frequently asked questions to help you navigate the currency and its nuances.

What is the currency symbol for the Singapore Dollar?

The currency symbol for the Singapore Dollar is $, followed by the code SGD. This symbol is widely used in financial transactions, banking, and official documents.

How are Singapore Dollars divided?

The Singapore Dollar is divided into 100 cents. However, due to the currency's relatively high value, cents are rarely used in daily transactions. In practice, SGD is typically quoted to two decimal places, with the cent being the smallest unit of currency.

What are the denominations of Singapore Dollars?

As of my last update, the denominations of Singapore Dollars include:

• Notes: $2, $5, $10, $50, $100, $500, and $1,000
• Coin: 5 cents, 10 cents, 20 cents, 50 cents, $1, $2, and $5

These denominations cater to a wide range of transactions, from small purchases to large-scale financial operations.

Can I use Singapore Dollars outside of Singapore?

While the Singapore Dollar is widely accepted in Singapore, its international use is more limited. Some neighboring countries, such as Brunei and Malaysia, recognize the SGD as legal tender, but it's not commonly accepted elsewhere. If you plan to use SGD outside of Singapore, it's advisable to check with local merchants or banks about their currency acceptance policies.