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Currency in Singapore
Singapore has a highly developed market-based economy, which historically revolves around extended
entrepot trade. The economy depends heavily on exports refining imported goods, especially in manufacturing.
The dollar is the currency of Singapore. Singapore currency code is SGD. It is normally abbreviated
with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies.
It is divided into 100 cents.
The Singapore dollar is a freely convertible currency which is allowed to float according to supply
and demand on the foreign exchange market, but it is monitored by the Monetary Authority of Singapore
against a trade-weighted basket of currencies.
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