 The street name was renamed to its present name by the Municipal Council in 1858 to commemorate the Duke of Wellington's victory over the French in 1815, the Battle of Waterloo.Formerly a one-way street, the street has been converted to a two-way street and the northern end of the street has been converted into a pedestrian mall to ease the problem of traffic jams, as well as the crowd at Kwan Im Thong Hood Co Temple, which was most packed during the weekends and public holidays.The street, which previously extended to Stamford Road, has been shortened after the construction of the Singapore Management University's city campus and the MRT station.