1.0 Movement of Ringgit Malaysia Against Singapore Dollar

1.0 MOVEMENT OF RINGGIT MALAYSIA AGAINST SINGAPORE DOLLAR

“Two years after Singapore's independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down. Singapore issued its first independent coins and notes in 1967. Interchangeability with the Brunei dollar is still maintained.

The Malaysian ringgit is the currency of Malaysia. It is divided into 100 sen. The word ringgit means "jagged" in Malay and was originally used to refer to the serrated edges of silver Spanish dollars which circulated widely in the area during the Portuguese colonial era.” “The Malaysian Ringgit is the currency in Malaysia (MY, MYS). The Singapore Dollar is the currency in Singapore (SG, SGP). The symbol for MYR can be written RM. The symbol for SGD can be written S$, and SGD$.

The Malaysian Ringgit is divided into 100 sen. The Singapore Dollar is divided into 100 cents. The exchange rate for the Malaysian Ringgit was last updated on December 5, 2012 from The International Monetary Fund. The exchange rate for the Singapore Dollar was last updated on December 5, 2012 from The International Monetary Fund. The MYR conversion factor has 6 significant digits. The SGD conversion factor has 6 significant digits.”

2.0 HISTORY OF SINGAPORE DOLLAR

Before the establishment of the British East India Company, Singapore is a busy commercial center. Thus, there are various foreign currencies there. At the beginning of the 8th century AD, Chinese traders have been brought into the Malay Peninsula and money became the main currency of the time. Materials such as gold, tin and pewter has been used to make money that has shaped coins, pagodas, pyramids, and money tin animals by the 15th century. Traders have used the dollar singapore Spain and Mexico in the absence of a dominant currency.

Private banks such as The Asiatic Banking Corporation, The Chartered Mercantile Bank of India and Shanghai Banking Corporation are some of the first bank issued paper...