Chinese Yuan Renminbi in Singapore Dollar

CNY Chinese Yuan Renminbi

Country of application:
PRC

Coin denominations in circulation:
1 yuan, 5, 2 and 1 jiao.

Denominations of banknotes in circulation:
100, 50, 20, 10, 5, 2 (rare) and 1 yuan, as well as 5, 2 and 1 jiao.

History reference:
The Chinese Yuan is the official currency of the Peoples Republic of China. Until the beginning of the 20th century, in China, for large-scale settlements, they used silver ingots - lyans. Small purc...hases were made using bronze round coins with a square hole in the center - qian, which Europeans call "keshi". Silver yuan began to be made in 1835. The use of silver coins and silver liang was banned in China in 1935. Instead, a boom in paper money began to grow - fabi. A certain easing in monetary policy occurred only in 2005, when the Chinese authorities carried out a revaluation of the yuan, raising its value by 2%. By 2008, the yuan appreciated by more than 20% to 6.82 yuan per US dollar. Nevertheless, even today, the PRC continues to enjoy certain foreign trade advantages, which are based on the undervalued exchange rate of the national currency.

SGD Singapore Dollar

Country of application:
Singapore

Coin denominations in circulation:
$ 1, 50, 20, 10, 5 and 1 cent.

Denominations of banknotes in circulation:
10 thousand, 1 thousand, 100, 50, 10, 5, 2 dollars.

History reference:
The Singapore dollar is the national currency of Singapore. Singapore was founded by Sir Stamford Raffles in February 1819. Until June 1823, Singapore was under British colonial rule. During this per...iod, Singapore became an important center of transit trade in Southeast Asia and a major port city. In circulation in Singapore, the first coins appeared in 1824, minted by the Calcutta Mint in India. The coins were made of copper with a face value of 1/3 cent and silver with a face value of 1/30 dollar. Between 1845 and 1939 Singapore used the Straits dollar. After that it was replaced by the Malayan dollar, and from 1953 by the Malaya and British Borneo dollar, which were issued by the Board of Commissioners of the Currency in Malaya and British Borneo.