On how and why our five-dollar banknote is Green in colour

Author: Hsien Yoong How

Images: Hsien Yoong How

The Board of Commissioners of Currency, Malaya was formed in October 1938. The Board was the official authority responsible for issuing the Malayan dollar from 1938 to 1952.

In 1940, the Board issued its first series of Malayan Dollar Notes to replace the Straits Dollar notes.  The two consignments of printed banknotes to Penang were sent on board cargo ships that were attacked by the German raider ‘‘Atlantis”. The records shown:

SS Eumanes was carrying 500,000 $1 notes and 100,000 $5 notes, and SS Automedon was carrying 700,000 $1 notes and 500,000 $5 notes.

Lost in WW2

Both cargo ships were sunk and all cargoes were lost. When the news of the incidents reached the British, the authority halted the release of $1 and $5 that were printed in 1940.

To avoid confusion, in 1941, new banknotes were printed with a colour swap, with $1 printed in blue and $5 printed in green. Although the printed notes were dated 1st July 1941, they were not released until 1945.  The above incidents explained why green became the colour for $5 banknotes. The practice remains till today in Malaysia and Singapore.

In 1952, the name of the Board was changed to The Board of Commissioners of Currency Malaya and British Borneo. The banknotes that were issued since 1953 and had remained as a legal tender up to 12 July 1967.

The $5 currency notes.

Own currencies

Upon separation in 1965, Brunei, Malaysia and Singapore decided to issue their own currencies to terminate the interchangeability arrangement under the Board of the Commissioners of Malaya and British Borneo. Singapore and Brunei retained the currency board arrangement.

The first series of Singapore currency launched on 12 July 1967 was based on orchids - a Garden City theme, the second series was based on birds - a tourism theme, and the third series – ships which reflect the economic lifeline of the country. The selection of different themes on our currency reflects how a young nation gathers its unity of purpose to unite the people. The ship “Twakow” was chosen for the $5 notes to reflect that the ship once played an important role in making Singapore a trading and transhipment hub.