The currency used in Singapore is the Singapore Dollar, abbreviated as SGD. Introduced in 1967, the Singapore Dollar is divided into 100 cents. It is one of the most traded currencies in the world, considered a stable and reliable medium for international transactions. The Monetary Authority of Singapore (MAS) is responsible for issuing and regulating the currency. The banknotes and coins feature various designs, often highlighting Singapore's multicultural society and heritage. Due to Singapore's strong economy and prudent fiscal policy, the Singapore Dollar is widely accepted and recognized in financial markets globally.