This listing is for the photographed 1999 (ND) Singapore 5 Dollar Banknote. This note was issued as a part of the Portrait Series of banknotes, issued from 1999 to today, meaning thar this note was one of the first issues of this series! Issued by the Board of Commissioners of Currency, Singapore (BCCS), rather than the Monetary Authority of Singapore (MAS), adding to the notes value, as BCCS issued notes are more difficult to find compared to MAS issues. Obverse depicts a portrait of the First President of Singapore, Yusof bin Ishak on the right end of the note. Reverse has a print of a "garden city" to the left. Very Fine (VF) grade/condition. Beautifully designed banknote and a sought-after note from the Portrait series of Singapore banknotes! Must have for any collection! P#39 (Pick Number 39).
In 1819 the first trading post was established under the British controlled government of the colony of Singapore, establishing the lands roots in the international economy. While under British colonial rule, the colony of Singapore used the Straits dollar as a form of currency until World War 2, when the currency was switched over to the Malayan dollar. Upon gaining independence in 1965, Singapore experienced a time of economic chaos, eventually issuing their own banknotes in 1967. The Monetary Authority of Singapore was established in 1971, becoming the sole issuer of Singapore currency.
The first issued notes under the MAS are known as the "Orchid Series" alluding to the notes design feature of the Orchid, which is Singapore's national flower. In 1976 the MAS introduced the Bird Series, featuring many different bird's native to Singapore, representing the country's progress and modernization. In 1984 the Ship Series was introduced, representing the nations rich maritime history as a seaport. Lastly, in 1999 the currently used Portrait series began to be issued, displaying a portrait of the nation's first president, Yusof bin Ishak, showing the country's movement towards a more stable and prosperous economy.
Singapore's paper currency reflects its transition from a struggling post-colonial city-state to a global financial center. The country adopted a pragmatic economic model, attracting foreign investment, focusing on manufacturing, and later transitioning to a knowledge-based economy.
The Singapore dollar (SGD) is known for its stability, managed by MAS, which maintains a policy of keeping inflation low while ensuring economic growth. The SGD is also pegged to a trade-weighted basket of currencies, which helps Singapore manage its open economy and large trade flows.
This note provides incredibly fascinating insight into Singapore history and a look into their economic development after gaining independence, making it a great addition to any collection!
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1999 (ND) Singapore 5 Dollar Bank Note - President Ishak Garden City Type - Portrait Series Issue - 1999 Singapore Five Dollar Note - P#39