It is divided into 100 cents (Malay: sen, Chinese: 分; pinyin: fēn, Tamil: காசு, romanized: kācu).

[3] The Spanish-American silver dollar brought over by the Manila galleons was in wide circulation in Asia and the Americas from the 16th to 19th centuries.

Before 1970, the various monetary functions associated with a central bank were performed by several government departments and agencies.

This, in theory, allows the Singaporean government to have more control over imported inflation and to ensure that Singapore's exports remain competitive.

[8][9] Such external assets consists of all or any of the following:[10] (a) gold and silver in any form; (b) foreign exchange in the form of demand or time deposits; bank balances and money at call; Treasury Bills; notes or coins; (c) securities of or guaranteed by foreign governments or international financial institutions; (d) equities; (e) corporate bonds; (f) currency and financial futures; (g) any other asset which the Authority, with the approval of the President of Singapore, considers suitable for inclusion.

[11] Singapore's foreign reserves officially stood at over US$288.2 billion, as of July 2022 according to the MAS.

The sizes were the same as those used for the Malaysian ringgit and based directly on the old coinage of the former Malaya and British Borneo dollar.

Limited numbers of commemorative bimetallic 5-dollar coins with scalloped edges were also periodically issued later during this series.

The coins are struck on a multi-ply plated-steel planchet used by the Royal Canadian Mint and comes with enhanced features to differentiate from fakes.

On the back, various scenes depicting Singapore's achievements are shown, as well as an orchid, to symbolise the country's national flower.

On 2 July 2014, the Monetary Authority of Singapore announced that it would stop printing $10,000 notes starting from 1 October 2014 to reduce the risk of money laundering, with all banks instructed to exchange the notes with MAS and not recirculate them.

[16] MAS would also stop producing the S$1,000 banknote as well from 1 January 2021 onwards, but banks would be allowed to recirculate existing notes with customers.

The first commemorative banknote was released on 24 July 1990 to celebrate the 25th anniversary of Singapore's independence.

Of the 5.1 million $50 polymer banknotes issued, 300,000 came with an overprint of the anniversary date "9 August 1990".

The note is similar to the $2 portrait series, except that the prefix of the serial number is replaced with a Millennium 2000 logo.

[19] A circulation version of the $20 note can be exchanged at banks in Singapore beginning 16 July 2007, limited to two pieces per transaction.

It shows the late Prime Minister of Singapore, Lee Kuan Yew, shouting "Merdeka!

The note makes distinctive use of the colour gold, reflecting Singapore's Golden Jubilee.

Each note reflects a value or aspiration that defines the theme: 'Caring Community, Active Citizenry', 'Opportunities for All', 'Safe and Secure', 'Strong Families' and '...regardless of race, language or religion...'.

[20] In 2017, to commemorate the 50th anniversary of its Currency Interchangeability Agreement between Brunei and Singapore, both the Monetary Authority of Brunei Darussalam and the Monetary Authority of Singapore issued $50 polymer banknotes to commemorate that event.