As of 2012, the total currency in circulation was S$29.1 billion. All issued Singapore currency in circulation (notes and coins) are fully backed by external assets in its Currency Fund to maintain public confidence. Such external assets consists of all or any of the following: (a) gold and silver in any form; (b) foreign exchange in the form of demand or time deposits; bank balances and money at call; Treasury Bills; notes or coins; (c) securities of or guaranteed by foreign governments or international financial institutions; (d) equities; (e) corporate bonds; (f) currency and financial futures; (g) any other asset which the Authority, with the approval of the President of Singapore, considers suitable for inclusion.