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Official currency substitution or full currency substitution happens when a country adopts a foreign currency as its sole legal tender, and ceases to issue the domestic currency. Another effect of a country adopting a foreign currency as its own is that the country gives up all power to vary its exchange rate .
Between 2 Oceans: A Military History of Singapore from 1275 to 1971 (2nd ed. Marshall Cavendish International Asia, 2011). Ong, Siang Song. One Hundred Years' History of the Chinese in Singapore (Oxford University Press--Singapore, 1984) online. Perry, John Curtis. Singapore: Unlikely Power (Oxford University Press, 2017). Tan, Kenneth Paul (2007).
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The Monetary Authority of Singapore said on Wednesday it does not manipulate its currency for export advantage, after the U.S. Treasury flagged the city-state as one of the countries whose ...
The Central Bank of Chile introduced a new series of the Chilean peso, starting with the redesigned 5000 Pesos banknote. [56] Nigeria: 30 September 2009 Three Nigerian bank notes (₦50, ₦10 and ₦5) were converted to polymer substrate following the successful performance of the 20 naira (polymer) banknote. [48] Honduras: 12 January 2010
It is an alternative to Singapore Interbank Offered Rate (SIBOR) which is a measure of the interbank money market rates. [1] As of December 2018, SOR is measured and published periods of overnight, 1 month, 3 month, and 6 month. Like SIBOR, SOR is set by the Association of Banks in Singapore, and is also publicly available. [2]
As of 2022, the Singapore dollar is the 10th most-traded currency in the world by value. Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei according to the Currency Interchangeability Agreement between the Monetary Authority of Singapore and the Autoriti Monetari Brunei Darussalam (Monetary ...