A History of Money in Singapore

This signature book describes the multiplicity of currencies that have been used in and around the island over the centuries, and how these culminate in the Singapore dollar today. The authors trace the impact, sometimes dramatic, of political and economic events and technological forces shaping these currencies. Singapore has followed its own development path, from the days when, in the first few decades of the colonial settlement, local merchants resisted currency reforms imposed on the island by the East India Company. Greater monetary autonomy was achieved in the second half of the 19th century when Singapore became a Crown colony in its own right. The drive towards self-representation culminated in full internal self-government in 1959, independence from British colonial rule in 1963 as part of the Federation of Malaysia, and the status of a sovereign nation in 1965. The introduction of Singapore''s own currency in 1967 was a national milestone. In 1971, Singapore established the