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The Singapore dollar (SGD) is the official currency of the Republic of Singapore. The Monetary Authority of Singapore (MAS) is responsible for issuing the currency notes and coins in Singapore. The SGD is recognized as one of the strongest currencies in Asia and is widely used in international transactions. With several denominations available, it’s important to know which is the biggest Singapore dollar note.
Overview: Singapore Currency
Singapore has been using its own currency since 1967 when it gained independence from Malaysia. Before that, it was part of the Malaysian ringgit currency system. The first series of Singapore dollar notes were issued in 1967, followed by a second series in 1985, and a third series in 1999. In 2014, the MAS introduced the latest series of Singapore dollar notes, called the “Portrait Series.”
Denominations: What are the different Singapore dollar notes available?
Currently, there are five denominations of Singapore dollar notes in circulation. They are $2, $5, $10, $50, and $100. The designs on these notes feature prominent Singaporean personalities, landmarks and symbols. The notes are made from polymer material, which makes them stronger and more durable than paper notes.
Singapore Dollar Notes: Design Features
Each denomination of Singapore dollar notes has unique design features that make them easily distinguishable from one another. The $2 note features a portrait of Yusof Ishak, Singapore’s first president, and the National Day Parade. The $5 note depicts a portrait of the late President S.R. Nathan and the theme of “Garden City.” The $10 note shows a portrait of former President Halimah Yacob and the theme of “Caring Community.”
The $50 note features the portrait of the founding father of modern Singapore, Lee Kuan Yew, and the theme of “Nation Building.” Finally, the $100 note shows a portrait of the late President Yusof Ishak, and the theme of “Pioneering Spirit.”
The Biggest Singapore Dollar Note: $10,000
While the most commonly used Singapore dollar notes are the $2, $5, $10, $50, and $100 denominations, there is one other note that exists but is not commonly seen in circulation. This note is known as the “Brunei-Singapore $10,000 Note”, and it’s the biggest Singapore dollar note available.
This note was first issued in 1973 jointly by the Monetary Authority of Singapore and the Currency Board of Brunei. The note has a face value of $10,000 and is one of the highest-value banknotes in the world. It is not commonly used in daily transactions due to its high value and is mainly used for interbank transactions and other large-scale financial transactions.
Design Features of the $10,000 Note
The $10,000 Singapore dollar note features a portrait of Singapore’s founding father, Lee Kuan Yew, on the front. The back of the note features an image of the city skyline, with the Merlion statue and the Esplanade Theatre in the foreground. The design also includes several security features such as a holographic stripe, watermark, and microprinting to prevent counterfeiting.
Why does the $10,000 note exist?
The $10,000 Singapore dollar note exists mainly for interbank transactions and other large-scale financial transactions. It is not meant for general use in everyday transactions. Most people will never encounter this note in their daily lives, and it is typically held in reserve by banks or used by high net worth individuals for investments or other purposes.
Is the $10,000 note legal tender?
While the $10,000 Singapore dollar note is recognized by the Monetary Authority of Singapore and is considered legal tender, it is not commonly accepted in everyday transactions. Most businesses and retailers do not have the necessary cash handling equipment to process such a high-value note, and it is unlikely that they would be able to provide change for it.
Conclusion
In conclusion, the biggest Singapore dollar note available is the $10,000 note, which is not commonly seen in circulation. This note is mainly used for interbank transactions and other large-scale financial transactions. While it is recognized as legal tender, it is not widely accepted in everyday transactions due to its high value. The more commonly used denominations of Singapore dollar notes are the $2, $5, $10, $50, and $100 notes, each with their distinctive design features that make them easily distinguishable from one another.
