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5 Secret Features Of The Singapore Currency

Whether you call it SGD or Sing-dollar, Singapore Dollar is our country’s official unit of currency. It consists of paper notes and coins. Paper notes are divided into S$2, S$5, S$10, S$50, S$100, S$500, S$1,000 and the rare $10,000. While, the coins denominated in 5 cents, 10 cents, 20 cents, 50 cents and S$1. All these money hold their very own secret features.

Read through the post to find out more.

Image Credits: Aleksandr Zykov via Flickr Creative Commons

#1: I AM STILL STANDING

Grab a S$5 note from your wallet. Do you see the Tembusa tree printed on it? Believe it or not, that tree is still standing in the Botanic Gardens. It is believed to be at least 200 years old. Imagine the wonders it holds!

#2: THE STRONG SHALL PREVAIL

Ever wondered why polymer banknotes exist? For starters, these plastic notes are water-proof. Not only can a polymer notes survive a washing machine spin, but it can also survive being forgotten in your pockets for a long time. According to the the Monetary Authority of Singapore (MAS), polymer notes last three to four times longer than their paper counterparts.

What is more impressive? Polymer notes have ingredients that are not available commercially. This is a way to prevent production of counterfeit notes.

#3: SELL NOT THY JEWELS

Rocking accessories made from or resembling Singapore coins sounds pretty cool! However, wearing these jewelries may land you at the wrong side of the law. Under Singapore’s Currency Act, it is illegal to “mutilate, destroy or deface” any form of Singapore currency. Be ware as offenders can be fined up to $2000!

#4: THROUGH THE MAGNIFYING GLASS

The seemingly unnoticable “line” at the top of every banknote is actually a microtext. You do not believe me? See for yourself! Get a magnifying glass from your father’s tools and take a closer look. At the top left-hand side of any note, the microtext shall state: “MONETARYAUTHORITYOFSINGAPORE”. Interesting way to hide your name, MAS!

#5: YOU CAN HAVE A REPLACEMENT

Have you accidentaly tear up one of your paper notes before? You are not the only one! A S$50 with a missing corner is practically worthless. Fortunately for you, you can exchange your note at the local banks.

What is the catch? Firstly, you must present at least two-thirds of the original note for a full refund. Lastly, you must provide evidence that you did not intentionally destroy your banknote.

Image Credits: Narin BI via Flickr Creative Commons

I hope that helps! 🙂

Sources: 1 & 2

Singapore dollar rises to new record high against ringgit

A new high against the Malaysian ringgit

The Singapore dollar reached a new record high against the ringgit this afternoon (Feb 24). According to Bloomberg data, the Singapore dollar reached as high as S$1 to RM3.1687.

The current exchange rate is now at RM3.1630 according to Bloomberg.

Analysts has said that the hike is more of the outperformance of the Sing dollar rather than the weakening in the ringgit.

Source: Bloomberg

There’s no better time to change your hands on some Malaysian ringgit, and head to Johor Bahru for a good meal and do some shopping!

Share this news with your friends and loved ones!

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Ways To Spot Counterfeit Singapore Notes From The Genuine Ones

Several security features in the currency notes act as shields to minimize the risk of counterfeiting. It is important for every Singaporean to know more about these security features to be able to spot between real and fake notes.

Start familiarizing yourself with these 6 ways:

1. OBSERVE THE PORTRAIT

Late Encik Yusof bin Ishak’s portrait takes up the front of the notes. As it is hand-engraved and printed in intaglio ink, it serves as an anti-counterfeiting feature that is hard to imitate. Look for this feature because the fine lines of the engraving are difficult to reproduce.

2. USE A MAGNIFYING GLASS

Upon looking at the note through a magnifying glass, you shall notice the text “BOARD OF COMMISSIONERS OF CURRENCY SINGAPORE” or “MONETARY AUTHORITY OF SINGAPORE” printed in micro-letters above the word SINGAPORE on the front side. To the naked eye, this line appears in a singular line but the intricate details are clearly seen with the help of a magnifying glass.

3. LOOK FOR THE BRAILLE CODE

To know if it is genuine, look at the note’s unique Braille code. Each note has a Braille code at the top right corner of the front side of the note. It is printed in heavy intaglio ink so that visually handicapped individuals can easily recognize each denominations by touch.

4. USE A UV LIGHT

If you place a genuine note under the UV light, you will see that its denomination numeral, its seal, and its serial number will glow on the front. While on paper notes, fluorescent fibers will glow if the note is genuine.

5. INSPECT THE LION

If the note is genuine, the Singapore Lion symbol on the front shall register perfectly with the image on the back. It is because the front symbol is printed simultaneously with the back symbol. Also, it appears near the watermark.

6. FEEL THE NOTE

A genuine note has an “embossed feel” due to the intaglio printing. The use of intaglio printing on the engraved portrait, the Singapore Arms, the word SINGAPORE, and other parts offers good overall tactility. This is done so that even the tiny details are clearly defined.

Image Credits: quora.com

Although the number of counterfeit cases is very low, you shall report its occurrence immediately to the nearest police station or to the Commercial Affairs Department (Contact: 6325 0000).

Sources: 1, 2, 3, & 4

A new high against the Malaysian ringgit

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