​News | In the 19th century, the Spanish dollar is the circulating currency in Singapore

​After Raffles landed in Singapore, the circulating currency was not from Great Britain, but rather, it was the Spanish dollar. Asst Prof Koh Keng We from NTU History Programme said every port in the region had slightly different exchange rates, determined largely by the local government or ruler. The people back then should be very good in mathematics, as the currency system was very complex, and they needed to remember the metal type and value of every currency in order to complete the transaction.

Media: Channel 8 Online