Alternatives to the Swiss Franc: Singapore Dollar
The fourth part of our series "Alternatives to the Swiss franc" focuses on the Singapore dollar. In addition to European and North American currencies, we are now also looking at an Asian currency alternative to the Swiss franc.
The Singapore dollar
The standard currency abbreviation for the Singapore dollar according to ISO 4217 is SGD. The abbreviations $ and S$ are also used. A Singapore dollar - like the US dollar or the Canadian dollar - is divided into 100 cents. Only the Board of Commissioners of Currency, Singapore (BCCS) is authorized to issue banknotes and coins in Singapore dollars.
Basically, the SGD is a freely tradable currency that is supervised by the Monetary Authority of Singapore. Among other things, the authority uses a basket of other currencies for monitoring purposes, but its composition is kept secret. This is to prevent attacks by speculators or the exertion of pressure on the Singapore dollar.
A special feature is that there is a fixed exchange rate ratio of 1:1 to the Brunei dollar and that both currencies are also accepted as valid means of payment in the other country.
Read the full article about the Signapur dollar here.
Other alternatives to the Swiss franc are the Canadian dollars (3rd part), the Swedish crown (part 2) and the Norwegian krone (part 1). Current currency rates, e.g. Swiss francs to Singapore dollars, can be found using the Currency converter Swiss Franc from Broker-Test.de calculate.
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