It was not a foregone conclusion in 1965 that Singapore would have its own currency. It was the fledgling nation's insistence on having control over its reserves led to that eventual outcome.
This and other stories of how Singapore's monetary system came about have been published in an app by the Government Investment Corporation (GIC) titled Safeguarding The Future - The Story Of How Singapore Has Managed Its Reserves And The Founding Of GIC.
The app delves into the creation of the Singapore dollar, the thinking behind the country's reserve management and monetary policy, and gives insights into how pioneer leaders, in particular Dr Goh Keng Swee, designed a system suited to Singapore.
The interactive app, written by GIC's former economics & strategy department director Freddy Orchard, was launched on Friday (May 13).
Click on http://gichistory.gic.com.sg to download the interactive E-Book iPad App, alongside an ePub file, an illustrated PDF and an audio book.
The Straits Times brings you excerpts of two chapters - Second Separation and Genesis Of An Idea.