• Short Summary

    ON JUNE 12, SINGAPORE, MALAYSIA AND THE BRITISH BORNEO-PROTECTORATE OR BRUNEI, WILL ISSUE SEPARATE CURRENCIES.?

  • Description

    ON JUNE 12, SINGAPORE, MALAYSIA AND THE BRITISH BORNEO-PROTECTORATE OR BRUNEI, WILL ISSUE SEPARATE CURRENCIES. THE ISSUING OF THESE CURRENCIES FOLLOWS THE BREAKAWAY OF SINGAPORE FROM MALAYSIA IN AUGUST, 1965.

    IN SINGAPORE TODAY (SUNDAY), THE REPUBLIC'S NEW CURRENCY WERE DISTRIBUTED TO THE VARIOUS BANKS FOR ISSUING ON JUNE 12. A HEAVILY ARMED POLICE FORCE CORDONED OFF THE GOVERNMENT TREASURY BUILDING FROM WHERE THE BOXES OF MONEY WERE TAKEN OUT AND ESCORTED TO THE BANKS.

    ACCORDING TO THE SINGAPORE FINANCE MINISTER, MR. LIM KIM SAN, THE NEW CURRENCY WOULD BE ONE OF THE FEW IN THE WORLD WHICH WOULD BE FULLY BACKED 100 PER CENT BY GOLD OF FOREIGN EXCHANGE ASSETS. THE NEW CURRENCY WOULD REMAIN FULLY CONVERTIBLE.

    THE CURRENCY ARE IN DENOMINATIONS OF $1, $5, $10, $50, $100, AND $1,000. THE DOLLAR IS WORTH 2s 4d (STERLING) OR 0.390299 GRAMES OF FINE GOLD.

    THE DESIGNS OF THE NEW NOTES, DESCRIBED AS "MODERN AND IMAGINATIVE" ARE SYMBOLIC OF THE DIFFERENT ASPECTS OF LIFE IN SINGAPORE. THE MAIN MOTIF ON THE FRONT OF THE NOTES IS THE ORCHID -- EACH DOMINATION HAVING A DIFFERENT LOCAL HYBRID.

    THE ORCHID IS FAST BECOMING A SYMBOL OF SINGAPORE. IT IS NOT ONLY DECORATIVE, BUT IS ALSO BECOMING AN INCREASINGLY IMPORTANT SOURCE OF FOREIGN EXCHANGE FOR SINGAPORE.

    MEANWHILE, THE OLD MALAYSIAN DOLLAR WILL BE ALLOWED TO CIRCULATE IN SINGAPORE UNTIL IT CEASES TO BECOME LEGAL TENDER IN THE REPUBLIC. THE OLD CURRENCY ISSUING AUTHORITY -- THE BOARD OF COMMISSIONERS OF CURRENCY, MALAYA AND BRITISH BORNEO -- WILL DECIDE ON A DATE TO DECLARE THE DOLLAR INVALID IN SINGAPORE.

  • Tags

  • Data

    Film ID:
    VLVA6KZ335QILII9AA5MNV1J4MZZE
    Media URN:
    VLVA6KZ335QILII9AA5MNV1J4MZZE
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    04/06/1967
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:07:00
    Time in/Out:
    /
    Canister:
    N/A

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